The last remaining lawsuit over the lethal 2010 San Bruno pipeline explosion moved close to resolution Friday when a judge gave preliminary approval to a $90 million settlement of claims by Pacific Gas and Electric Co. shareholders against the utility’s managers and directors.
The shareholders blamed top PG&E officials for their financial losses. Under the settlement, the managers and directors, and their insurers, would pay the funds to PG&E, which would use it for programs intended to upgrade gas operations and corporate governance, said Mark Molumphy, a lawyer for the shareholders.