Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Edison To Contact Him Directly To Discuss Their Options
If you purchased or acquired securities in EDISON between February 25, 2021through February 6, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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NEW YORK, April 02, 2025 (GLOBE NEWSWIRE) — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Edison International (“Edison” or the “Company”) (NYSE: EIX) and reminds investors of the April 21, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing 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.
On January 13, 2025, a complaint was filed in the Superior Court of the State of California for the County of Los Angeles alleging that the fires originated from Edison’s power lines. The complaint included eye-witness accounts and photographs that showed the fire was started by Edison’s electrical equipment.
On this news, Edison share prices dropped by $7.73, or approximately 11.89%, on January 13, 2025
On February 6, 2025, The Wall Street Journal reported that SCE “submitted two letters to the California Public Utilities Commission with updates on its analysis of the Eaton and Hurst wildfires, saying it believes its equipment may be associated with the start of the Hurst fire.”
On this news, Edison share prices dropped by $1.28, or approximately 2.4%, on February 6, 2025.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Edison’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the Edison International class action, go to www.faruqilaw.com/EIX or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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