Edison International (NYSE: EIX) Investor Securities Class Action Lawsuit 11/16/2018

If you purchased a significant amount of shares of Edison International (NYSE: EIX) between February 23, 2016 and November 12, 2018, and / or if you purchased any NYSE: EIX shares prior to February 2016 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: January 15, 2019. NYSE: EIX investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Edison International
Case Name: 
Edison International Shareholder Class Action Lawsuit 11/16/2018
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: EIX
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
11/16/2018
Class Period Begin: 
02/23/2016
Class Period End: 
11/12/2018
Court of Filing: 
U.S. District Court for the Central District of California
Deadline To File for Lead: 
01/15/2019
Summary: 

An investor in shares of Edison International (NYSE: EIX) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by Edison International in connection with certain allegedly false and misleading statements made between February 23, 2016 and November 12, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Edison International (NYSE: EIX) common shares between February 23, 2016 and November 12, 2018, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between February 23, 2016 and November 12, 2018, the defendants made false and/or misleading statements and/or failed to disclose that the Company failed to maintain electricity transmission and distribution networks in compliance with safety requirements and regulations promulgated under state law, that consequently, the Company was in violation of state law and regulations, that the Company's noncompliant electricity networks created a significantly heightened risk of wildfires in California, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Edison International reported that its annual Total Revenue rose from over $11.86 billion in 2016 to $12.32 billion in 2017.

Shares of Edison International (NYSE: EIX) reached as high as $82.80 per share in November 2017.

On November 8, 2018, two wildfires started in Southern California, designated the Hill Fire and the Woolsey Fire. The Hill Fire, which broke out in Ventura County, subsequently grew to 4,531 acres, according to the California Department of Forestry and Fire Protection ("Cal Fire"). Stretching from Los Angeles County to Ventura County, the Woolsey Fire burned 93,662 acres, including 83 percent of all National Parks Service land in the Santa Monica Mountains National Recreation Area, according to Cal Fire.
On November 12, 2018, the California Public Utilities Commission ("CPUC") launched an investigation into Edison International's subsidiary Southern California Edison Company, in order to "assess the compliance of electrical facilities with applicable rules and regulations in fire-impacted areas." According to CPUC, electrical infrastructure may have suffered malfunctions near ground zero of the blazes. Specifically, it was reported that on the day the fires began Southern California Edison Company issued an alert to the CPUC that a substation circuit near the Woolsey Fire origin "relayed," or sensed a disturbance on the circuit, just two minutes before Cal Fire said that the devastating fire began.

Shares of Shares of Edison International (NYSE: EIX) declined to as low as $45.50 per share on November 12, 2018.