Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Edison International (“Edison”) (NYSE: EIX) common stock between February 25, 2021 and April 29, 2025, inclusive (the “Class Period”).
Edison is the parent holding company of the public utility company Southern California Edison Company (“SCE”). During dangerous fire weather conditions, SCE utilizes its Public Safety Power Shutoff (“PSPS”) program, which shuts off power to the electric utilities it controls to reduce the risk of a wildfire caused by utility equipment. On January 7, 2025, in the Eaton Canyon in Pasadena, California, the Eaton fire ignited under SCE’s transmission equipment during an extreme windstorm, which called into question the effectiveness of Edison’s PSPS program and fire mitigation strategies.
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about the company’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) Edison was unable to safely execute PSPS on key transmission lines in high-risk areas without risking broader system failures; (2) the company’s internal wildfire risk models did not fully account for foreseeable extreme weather events; (3) Edison and SCE submitted incomplete data to third-party risk analysts, which caused the reported risk reductions to be inflated; and (4) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On July 31, 2025, Defendants filed a Motion to Dismiss the Amended Complaint. The Motion has been fully briefed and is pending decision before the Court. This action is ongoing.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.