An Oregon jury on Wednesday said PacifiCorp, an electric utility owned by billionaire Warren Buffett's Berkshire Hathaway Inc , must pay punitive damages for four of the wildfires that devastated the state in 2020.
Burned car is seen in a neighbourhood after wildfires destroyed an area of Phoenix, Oregon, U.S., September 10, 2020. REUTERS/Carlos Barria/File Photo
Jurors in Multnomah County Circuit Court reached their conclusion two days after finding that Portland-based PacifiCorp owed more than $70 million ofThe plaintiffs accused PacifiCorp of improperly failing to shut down power lines during a Labor Day windstorm, despite warnings of potential hurricane strength gusts, and that some of its lines set off fires.
Jurors set punitive damages at 25% of compensatory damages, meaning the first 17 plaintiffs would receive at least $87 million, according to the plaintiffs' lawyers. PacifiCorp plans to appeal the verdict and damages, but said the 25% multiplier for punitive damages "significantly reduces our financial exposure."
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