Some of the Biggest Names in the Hedge-Fund Industry May Have Gotten Whacked by Betting on PG&E at Exactly the Wrong Time
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- Pacific Gas and Electric Company, California's biggest utility provider, has seen its value plunge by 80% after last November's deadly California wildfire.
- The utility on Monday said it intends to file bankruptcy petitions at the end of the month to reorganize under Chapter 11.
- Eight hedge funds snapped up shares in the third quarter — before the wildfire broke out...