SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Edison International of Class Action Lawsuit and Upcoming Deadline – EIX
In This Article:
NEW YORK, NY / ACCESSWIRE / December 5, 2018 / Pomerantz LLP announces that a class action lawsuit has been filed against Edison International (''Edison'' or the ''Company'') (EIX) and certain of its officers. The class action, filed in United States District Court, Central District of California, and indexed under 18-cv-09690, is on behalf of a class consisting of all persons and entities, other than Defendants and their affiliates, who purchased or otherwise, acquired Edison securities between February 23, 2016 through November 12, 2018, both dates inclusive (the ''Class Period''), seeking to recover damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the ''Exchange Act'') and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.
If you are a shareholder who purchased Edison securities between February 23, 2016, and November 12, 2018, both dates inclusive, you have until January 15, 2019, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
[Clickhere to join this class action]
Edison International was founded in 1886 and is based in Rosemead, California. Edison International is the parent holding company of Southern California Edison Company (''SCE''). SCE is an investor-owned public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California.
The Company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks. Its transmission facilities consist of lines ranging from 33 kV to 500 kV and substations; and its distribution system comprises approximately 53,000-line miles of overhead lines, 38,000-line miles of underground lines, and 800 substations located in California. The Company serves approximately 5 million customers.
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.