SAN DIEGO, Feb. 20, 2025 (GLOBE NEWSWIRE) —
Robbins LLP reminds stockholders that a class action was filed on behalf of all persons or entities that purchased or otherwise acquired Edison International (NYSE: EIX) securities between February 25, 2021 and February 6, 2025. Edison is the parent company of Southern California Edison Company (SCE) and Edison Energy Group, Inc.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that Edison International’s (EIX) Equipment May Have Been Involved in the Recent Eaton Canyon Fire
According to the complaint, during the class period, defendants claimed that SCE uses its Public Safety Power Shutoffs (“PSPS”) program to “proactively de-energize power lines to mitigate the risk of catastrophic wildfires during extreme weather events.” Notwithstanding, the complaint alleges that defendants 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; and (2) this resulted in heightened fire risk in California and heightened legal exposure to the Company.
On January 7, 2025, a fire began in Eaton Canyon. The complaint alleges that on January 12, 2025, Edison admitted that there were “no interruptions or operational/electrical anomalies in the 12 hours prior to the fire’s reported start time until more than one hour after the reported start time of the fire.” The complaint further alleges that the following day a complaint was filed in the Super Court of the State of California alleging that the fires originated from Edison’s power lines. On this news, Edison’s stock price fell almost 12%.
Then, on February 6, 2025, The Wall Street Journal published an article titled, “Edison Unit Says Its Equipment May Have Been Involved in SoCal Fires.” On this news, the Company’s stock price fell again.
What Now: You may be eligible to participate in the class action against Edison International. Shareholders who want to serve as lead plaintiff for the class must submit their information to the court by April 14, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.
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