My photography friend
Berkshire Hathaway (BRK.A) (NYSE:BRK.B) An Oregon jury on Tuesday ordered Pacificorp to pay at least $29.2 million to plaintiffs whose properties were damaged in 2020 wildfires that they said were caused when the company failed to interrupt power lines during strong winds.
The compensation for actual damages and emotional distress to 10 victims of the fire follows approximately $175 million previously ordered for 26 victims.
According to lawyers representing the plaintiffs, the latest award will exceed $42 million once punitive damages and other post-trial additions are made.
Berkshire (BRK.A) (BRK.B) recently disclosed that it reported probable losses of $1.9 billion from wildfires in 2023 and faces about $8 billion in claims in Oregon and California, including claims by state and federal agencies totaling more than $1 billion. for various firefighting and clean-up expenses.
In his annual letter to shareholders, Warren Buffett called Berkshire Hathaway Energy (BRK.A) (BRK.B), which includes PacifiCorp, a “major earnings disappointment” and “it will be many years before we know the final earnings tally.” BHE accounts”. losses from wildfires and can make smart decisions about whether future investments should be made in vulnerable Western states.”