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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Earlie who wrote (73602)	3/1/2001 8:48:06 AM
From: AllansAlias	Read Replies (1) \| Respond to of 436258

This sort of thing will become commonplace: PG&E hit with 2 lawsuits (PCG) by Michael Baron PG&E Corp. (PCG) disclosed in an 8-K filing with the Securities and Exchange Commission Thursday that it has been hit with two lawsuits seeking a total of roughly $3 billion in restitution. The suits allege the company violated its fiduciary duties by repurchasing common shares of Pacific Gas & Electric stock and the company violated a tax-sharing arrangement. PG&E said it believes these suits are without merit and that it plans to present a vigorous defense. Also in the 8-K, the company said it still owes $1.11 billion for December power purchases and $331 million for January power deliveries. In keeping with previously-disclosed plans, PG&E said it is unable to pat these debts in full and that it will make partial payments of $51 million and $177 million, respectively.