An investigation on behalf of investors of PG&E Corporation (NYSE:PCG) shares over potential securities laws violations by PG&E and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of PG&E Corporation (NYSE:PCG) concerning whether a series of statements by PG&E Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

PG&E Corporation reported that its annual Total Revenue rose from over $16.83 billion in 2015 to over $17.66 billion in 2016 and that its Net Income increased from $888 million in 2015 to over $1.4 billion in 2016. Shares of PG&E Corporation (NYSE:PCG) grew from $40.28 per share in late 2013 to as high as $71.56 per share in September 2017.

On October 13, 2017, PG&E Corporation announced that its subsidiary, Pacific Gas and Electric Company, is under investigation as part of a probe into wildfires in Northern California. PG&E Corporation stated that the California Department of Forestry and Fire Protection is investigating the causes of the fire, including the possible role of power lines and other facilities of Pacific Gas and Electric Company. Shares of PG&E Corporation (NYSE:PCG) declined on October 16, 2017 to $50.35 per share.

On October 17, 2017, it was reported that a Santa Rose couple sued PG&E Corporation over Sonoma County fires. They allege that the utility company is responsible for the wildfire that destroyed their Coffey Park home and thousands of others in Sonoma County.