Warren Buffett's PacifiCorp utility reaches $178 million wildfire settlement
), said on Monday it agreed to pay $178 million to resolve claims by 403 plaintiffs arising from two Oregon wildfires in 2020.
PacifiCorp said the"vast majority" of plaintiffs opted out of class-action litigation where other plaintiffs are seeking at least $30 billion. Ryan Flynn, president of PacifiCorp's Pacific Power unit, said he hoped the latest settlements will provide"some closure" to plaintiffs. Buffett said in his annual letter to Berkshire shareholders on Feb. 24 that he"made a costly mistake" in not anticipating the financial risks from wildfires.
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