Sempra, Insurers Ink $686M Wildfires Settlement

Law360, New York (June 29, 2009, 12:00 AM EDT) -- Sempra Energy's San Diego Gas & Electric Co. has reached a $686 million settlement with several homeowners insurance companies, putting to rest claims stemming from 2007 California wildfires, the company said.

In a filing with the U.S. Securities and Exchange Commission on Friday, the company said 65 homeowner insurer plaintiffs had agreed to settle all their claims against the company relating to three 2007 wildfires.

The settlement came a day after a judge in the San Diego Superior Court said the lawsuits could not proceed as...
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