Hagens Berman Blog

Whistleblower News: PG&E, Mortgage Firms, E-Cigarettes

by HB Whistleblower Legal Team

08/22/2019

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PG&E’s CEO could make up to $110 million in bonuses if its stock rebounds, investors warn

PG&E is about to go bankrupt. Will the troubled utility keep the lights on as it finds a resolution of the billions of dollars it faces in potential liabilities from the Camp Fire and the wine country wildfires.

PG&E bondholders seeking to get a deal on the company’s stock are raising concerns about the CEO’s pay structure, warning Bill Johnson could earn up to $110 million if the company’s share prices return to their 2017 peak.

His annual base pay is $2.5 million, but an analysis circulated by some investors shows he could earn substantially more.

Johnson, who took over PG&E in April, said those estimates are unrealistic and that he didn’t join the company for the money. read more »

As U.S. watchdog retreats, mortgage firms reprise cozy marketing arrangements

U.S. mortgage firms are getting back into joint marketing and advertising arrangements, reviving a controversial practice that was effectively banned in the aftermath of the 2007-2008 subprime mortgage crisis

Such arrangements involve mortgage originators and title insurers, hungry for sales leads, paying a real estate broker or homebuilder to promote their services and products, or to rent a desk in their offices. read more »

India proposes ban on e-cigarettes, with jail terms for offenders - government documents

India’s health ministry has proposed a ban on the production and import of electronic cigarettes, documents seen by Reuters showed, potentially jeopardizing the expansion plans of big firms like Juul Labs and Philip Morris International.

The ministry has proposed that the government issue an executive order banning the devices in the public interest, saying it was needed to ensure e-cigarettes don’t become an “epidemic” among children and young adults. read more »