Blue Mountain Attacks PG&E’s Management, Says Company Is Solvent

As ValueWalk covered at the beginning of December, Blue Mountain, the $22 billion New York-based hedge fund, doubled down on its position in PG&E, the embattled Californian utility supplier, towards the end of November as shares in the company slumped following speculation that it would collapse as claims against the enterprise mounted. Q3 hedge fund letters, conference, scoops etc According to investor correspondence reviewed by ValueWalk at the time, the firm increased its stake in PG&E by 88% to “approximately 11 million shares,” and PG&E debt was 3.2% of standalone fund capital at the end of November. Now PG&E has declared its…