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Monday, May 27, 2024 | Back issues
Courthouse News Service Courthouse News Service

Gas Leak

The Ninth Circuit upheld the dismissal of a putative shareholder class action against Sempra Energy and Southern California Gas Company alleging defendants’ misstatements before and after a “massive” natural gas leak from the Aliso Canyon gas storage reservoir triggered a drop in Sempra’s share price. The plaintiffs failed to “identify any particular defendant who made a false or misleading statement.”

SAN FRANCISCO — The Ninth Circuit upheld the dismissal of a putative shareholder class action against Sempra Energy and Southern California Gas Company alleging defendants’ misstatements before and after a “massive” natural gas leak from the Aliso Canyon gas storage reservoir triggered a drop in Sempra’s share price. The plaintiffs failed to “identify any particular defendant who made a false or misleading statement.”

Categories / Appeals, Energy, Environment, Securities

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