Description: Stockholder derivative action alleging breaches of fiduciary duties in connection with natural gas leak from natural gas storage facility in Southern California.
Shupak v. Reed
Filing Date Type File Action Taken Summary 04/19/2016 Complaint Download Stockholder derivative complaint filed. Shareholder Suit Filed in Connection with SoCalGas Natural Gas Leak. A Sempra Energy (Sempra) shareholder filed a stockholder derivative complaint in California Superior Court alleging that officers and directors of Sempra and its subsidiary Southern California Gas Company (SoCalGas) violated their fiduciary duties in connection with the months-long leak from a natural gas storage facility in southern California. The complaint alleged that the leak was the largest methane leak in United States history and that the link had undermined California’s “vaunted program to combat climate change,” “erasing years of the progress made under California’s effort to overhaul its energy industry, a program that has cost consumers tens of billions since 2006.”