RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased Edison International (NYSE: EIX) (“Edison” or the “Company”) securities between February 23, 2016 and November 12, 2018, inclusive (the “Class Period”).
Edison shareholders may, no later than January 15, 2019, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Edison and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the class period defendants made materially false and misleading statements regarding the company’s business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) the company failed to maintain electricity transmission and distribution networks in compliance with safety requirements and regulations promulgated under state law; (ii) consequently, the company was in violation of state law and regulations; (iii) the company’s noncompliant electricity networks created a significantly heightened risk of wildfires in California; and (iv) as a result, the company’s public statements were materially false and misleading at all relevant times.
On November 8, 2018, a wildfire started in the town of Pulga, California, and subsequently incinerated the nearby town of Paradise, killing at least 42 people. On November 12, 2018, the California Public Utilities Commission (“CPUC”) launched an investigation into Edison’s subsidiary Southern California Edison Company in order to “assess the compliance of electrical facilities with applicable rules and regulations in fire-impacted areas.”
If you are a member of the class, you may, no later than January 15, 2019, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as “lead plaintiff.” Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.