A securities class action has been filed in the USDC –C.D.CA. against Edison International (EIX) (“Edison” or the “Company”) on behalf of all persons or entities who purchased or otherwise acquired Edison securities between February 25, 2021, and February 6, 2024 (the “Class Period”).
Edison International is the parent holding company of Southern California Edison Company (“SCE”) and Edison Energy Group, Inc. (“Edison Energy Group”). SCE is an investor-owned public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. Edison Energy Group is a holding company for Edison Energy, LLC which is engaged in the competitive business of providing energy services to commercial and industrial customers
The complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that:
(1) Edison’s claim that Southern California Edison Company (“SCE”) used its Public Safety Power Shutoffs (“PSPS”) program to “proactively de-energize power lines to mitigate the risk of catastrophic wildfires during extreme weather events”, was false;
(2) this resulted in heightened fire risk in California and heightened legal exposure to the Company; and
(3) as a result, Defendants’ statements about Edison’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times, thereby harming investors.
If you purchased Edison securities during the Class Period, and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.