Jun 16, 2020 - Energy & Environment

PG&E pleads guilty to manslaughter for role in 2018 fire

A search and rescue team inspects an area taped for possible human remains as they comb through Paradise Gardens, which was destroyed by the Camp Fire in 2018 in Paradise, California. Photo: Marcus Yam/Los Angeles Times via Getty Images

California utility PG&E admitted to criminal negligence on Tuesday, pleading guilty to 84 felony counts of involuntary manslaughter for its role in starting the 2018 Camp Fire.

The big picture: The plea "reflects the bankrupt utility taking responsibility for the deadliest corporate crime in U.S. history," Bloomberg Law writes. The fire, ignited by PG&E equipment, killed 84 people. The company is also pleading guilty to a count of unlawfully causing a fire.

Background: PG&E already agreed to pay more than $25 billion to settle claims from victims, insurers and local governments, per Bloomberg, and was fined $1.9 billion by the California Public Utilities Commission.

What to watch: People who lost family and property in the fire are expected to testify to the county beginning Wednesday. The judge will then impose a sentence on the utility.

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Zachary Basu
Updated Jun 24, 2020 - Politics & Policy

Appeals court orders judge to dismiss case against Michael Flynn

Photo: Aaron P. Bernstein/Getty Images

The D.C. Circuit Court of Appeals said in a 2-1 ruling on Wednesday that the federal judge overseeing the sentencing of former national security adviser Michael Flynn must accept the Justice Department's request to drop charges.

Why it matters: It could mark the end of a long-running legal fight that began with Flynn pleading guilty to lying to the FBI in December 2017 about his contacts with the Russian ambassador during the Trump administration's transition into office.

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Zachary Basu
Jun 24, 2020 - Politics & Policy

Barr agrees to testify before House Judiciary Committee on July 28

Photo: Jahi Chikwendiu/The Washington Post via Getty Images

Attorney General Bill Barr has agreed to testify before the House Judiciary Committee for a "general oversight hearing" on July 28, according to DOJ spokeswoman Kerri Kupec.

The state of play: The news that Barr has agreed to testify comes after House Judiciary Chairman Jerry Nadler (D-N.Y.) threatened to issue a subpoena — and as the committee is in the midst of a hearing about the alleged politicization of the Justice Department under Barr and President Trump.

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Dan Primack
Jun 23, 2020 - Economy & Business

Bill Ackman's "mature unicorn" acquisition company could raise $6.5 billion

Photo illustration: Sarah Grillo/Axios. Photo: Sylvain Gaboury/Patrick McMullan via Getty Images

Pershing Square Tontine Holdings, a special purpose acquisition company formed by Bill Ackman to acquire "mature unicorns," filed for a $3 billion IPO.

Why it matters: $3 billion would be the most money ever raised by a SPAC. And it may ultimately raise nearly $6.5 billion, based on concurrent plans to raise between $1 billion and $3 billion from funds associated with Ackman's hedge funds, plus up to another $450 million if banks exercise their over-allotment options.

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