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Edison International (NYSE: EIX): Schubert Jonckheer & Kolbe LLP Investigating Potential Shareholder Claims Against the Company's Officers and Directors Arising Out of the January 2025 Los Angeles Wildfires
Prnewswire· 2025-06-26 15:00
Core Viewpoint - Edison International is facing potential legal claims from investors due to the impact of wildfires in January 2025, which may have been caused by its subsidiary Southern California Edison’s electrical equipment [2][3] Group 1: Wildfire Incident and Impact - A series of wildfires began in early January 2025, significantly affecting the Los Angeles area, including regions serviced by Southern California Edison (SCE) [2] - Evidence suggests that SCE's electrical equipment may have initiated some of the wildfires, leading to multiple lawsuits against Edison and SCE from individual plaintiffs and municipalities [2] - Edison has acknowledged that it is "probable" to incur "material losses" due to the wildfires, and its stock price has significantly declined since the incidents began, resulting in substantial losses for shareholders [2] Group 2: Legal Actions and Investigations - An investor class action lawsuit has been filed against Edison in the U.S. District Court for the Central District of California, claiming that the company made false and misleading statements regarding its safety practices [2] - Schubert Jonckheer & Kolbe LLP is investigating potential negligence or wrongdoing by Edison's officers and directors in relation to the wildfires and the subsequent legal claims [3]