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: The hedge funds that left wildfire victims holding the bag on PG&E stock

Billionaire David Tepper, founder of Appaloosa Management, led a group of hedge funds that netted at least $2 billion by quickly dumping PG&E Corp. stock that helped the embattled utility last year emerge from bankruptcy, according to a KQED and the California Newsroom report.

Appaloosa, Anchorage Capital Group and Silver Point Capital were among a group of hedge funds that a Northern California bankruptcy court awarded “equity backstop” shares of PG&E PCG, as part of the power giant’s July 2020 exit from Chapter 11.

But…

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