PG&E Corp. shares slumped after the company said that investigators are investigating its equipment as a possible cause of a fire that killed four people and burned more than 56,000 acres in the Sierra Nevada mountains of Northern California, Bloomberg News reported. The company is also warning that it may need to cut off power in some areas to reduce the chances that its equipment will start additional fires this week. The California Department of Forestry and Fire Protection, known as Cal Fire, has taken some of the utility’s equipment in its probe of the Zogg Fire in Shasta County, which is 95 percent contained, PG&E said in a filing on Friday with the U.S. Securities and Exchange Commission. The utility has filed a report on the incident with state regulators. PG&E said in a statement that its report was preliminary and it was cooperating with investigators. Cal Fire has yet to determine the cause of the blaze.
