An Oregon appeals court just handed PacifiCorp a major win in its wildfire liability saga. (Reuters)
For context: Berkshire Hathaway’s utility may be on the hook for tens of billions in damages from 2020 Labor Day wildfires, which burned 2K+ properties across four blazes. By last month, 171 plaintiffs had already received around $1.1B. The stakes? S&P recently warned it may downgrade PacifiCorp to junk if jury awards stay elevated.
The recent ruling: On Wednesday, the appeals court decided a trial judge blundered—by allowing the litigation against PacifiCorp to proceed as a class action. Now, this shift could lower PacifiCorp's liability. The case is heading back to the trial judge, who can reconsider whether a single class is appropriate.