{"id":812355,"date":"2025-02-12T16:32:04","date_gmt":"2025-02-12T21:32:04","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-edison-international-eix\/"},"modified":"2025-02-12T16:32:04","modified_gmt":"2025-02-12T21:32:04","slug":"gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-edison-international-eix","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-edison-international-eix\/","title":{"rendered":"Gainey McKenna &amp; Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Against Edison International (EIX)"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">NEW YORK,, Feb.  12, 2025  (GLOBE NEWSWIRE) &#8212; Gainey McKenna &amp; Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of all persons or entities who purchased the securities of Edison International (\u201cEdison\u201d or the \u201cCompany\u201d) (NYSE: EIX) between February 25, 2021 and February 6, 2025, both dates inclusive (the \u201cClass Period\u201d).<\/p>\n<p align=\"justify\">The Complaint alleges that Defendants throughout the Class Period made false and\/or misleading statements and\/or failed to disclose that: (1) Edison\u2019s claim that Southern California Edison Company (\u201cSCE\u201d) used its Public Safety Power Shutoffs (&#8220;PSPS&#8221;) program to \u201cproactively de-energize power lines to mitigate the risk of catastrophic wildfires during extreme weather events\u201d, was false; (2) this resulted in heightened fire risk in California and heightened legal exposure to the Company; and (3) as a result, Defendants\u2019 statements about Edison\u2019s business, operations, and prospects, were materially false and misleading and\/or lacked a reasonable basis at all times.<\/p>\n<p align=\"justify\">According to the Complaint, at approximately 6:15 p.m. on January 7, 2025, Altadena residents Jennifer Errico and Marcus Errico observed the ignition of the Eaton Fire underneath an electrical tower across the canyon from their home on the 2500 block of Canyon View Drive in Pasadena, CA 91107. According to the Complaint before evacuating, Jennifer and Marcus took photographs of the fire underneath what they described as \u201cgiant, giant towers\u201d across from where Midwick Drive intersects with North Altadena Drive. The Complaint alleges that the truth of the fire\u2019s source, however, was unknown to the investing public at the time, as residents were busy evacuating. The Complaint alleges that the news concerning the source of the Eaton Canyon Fire\u2019s source would not be known until days after the fire started.<\/p>\n<p align=\"justify\">The Complaint alleges that meanwhile, Edison obfuscated the truth by making false and misleading statements concerning its role in the fire. The Complaint alleges that on January 8, 2025, Edison issued a press release stating, in relevant part: \u201cTuesday afternoon in SCE\u2019s service area. SCE has transmission facilities on the east side of Eaton Canyon. <strong><em>SCE\u2019s distribution lines<\/em><\/strong><strong><em>immediately to the west of Eaton Canyon were de-energized well<\/em><\/strong><strong><em>before the reported start time of the fire, as part of SCE\u2019s Public<\/em><\/strong><strong><em>Safety Power Shutoff (PSPS) program. <\/em><\/strong>SCE is currently conducting a review of the event. The Hurst Fire began late Tuesday evening. While the reported ignition site is within the Los Angeles Department of Water and Power\u2019s service area, SCE has transmission facilities near the reported ignition site, and the company is currently conducting a review of the event.\u201d<\/p>\n<p align=\"justify\">According to the Complaint on January 9, 2025, the Pasadena Now article titled, \u201cThe Moment the Eaton Fire Ignited\u201d was published, reporting from eyewitnesses that the Eaton Canyon Fire originated near electrical towers, although the article did not name Edison or SCE as the entities responsible for operating said towers.<\/p>\n<p align=\"justify\">The Complaint alleges that on this news, Edison share prices dropped $4.50, or approximately 6.47%, from closing at $69.50 on January 8, 2025 to close at $65.00 on January 10, 2025, the next trading day.<\/p>\n<p align=\"justify\">Investors who purchased or otherwise acquired shares of Edison should contact the Firm<strong><em> prior to the April 14, 2025 <\/em><\/strong>lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.\u00a0 If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna &amp; Egleston at (212) 983-1300, or via e-mail at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=V1FGxjcNTU3MjoKX-aVQuvP7-XwT5r2UVxzE8fpns6smus96gXcEjUNgZ9SIMZLgFNg33J6FLDrgJj3wM6bpbZdvkMF3y_B0W-sdF-cq6Hc=\" rel=\"nofollow\" target=\"_blank\"><u>tjmckenna@gme-law.com<\/u><\/a> or <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Qw16A5e3Tyv6wF_25wmq9lnmPipgQQ4-BwBkD01ilvKMIDpT2nHfbX9yYn4GBNOtnf-TEVkrjm3PJk37C6Xxf7L0MWXDV8yzltOwusStIHs=\" rel=\"nofollow\" target=\"_blank\"><u>gegleston@gme-law.com<\/u><\/a>.<\/p>\n<p align=\"justify\">Please visit our website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=RIWR1Ad747pXxGIc5tEGPw4WdllXvpGZ0QD1DQbU7NG6yjarHbOdeLUadi3jCwNvf-OKAE9g0A1IpP0wu6IOE5U_Yd3IHfz-mO9hCSaRP8E=\" rel=\"nofollow\" target=\"_blank\"><u>http:\/\/www.gme-law.com<\/u><\/a> for more information about the firm.<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTM1NzU4NSM2NzQ4ODE3IzIwMTc3MDQ=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/MTlhNzhkZjUtZjJiYy00ZjAzLWJlMDQtMWExNzZjMmY0MWE5LTEwMjkyNzQ=\/tiny\/Gainey-McKenna-Egleston.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK,, Feb. 12, 2025 (GLOBE NEWSWIRE) &#8212; Gainey McKenna &amp; Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of all persons or entities who purchased the securities of Edison International (\u201cEdison\u201d or the \u201cCompany\u201d) (NYSE: EIX) between February 25, 2021 and February 6, 2025, both dates inclusive (the \u201cClass Period\u201d). The Complaint alleges that Defendants throughout the Class Period made false and\/or misleading statements and\/or failed to disclose that: (1) Edison\u2019s claim that Southern California Edison Company (\u201cSCE\u201d) used its Public Safety Power Shutoffs (&#8220;PSPS&#8221;) program to \u201cproactively de-energize power lines to mitigate the risk of catastrophic wildfires during extreme weather events\u201d, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-edison-international-eix\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gainey McKenna &amp; Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Against Edison International (EIX)&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-812355","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gainey McKenna &amp; Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Against Edison International (EIX) - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-edison-international-eix\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gainey McKenna &amp; Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Against Edison International (EIX) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK,, Feb. 12, 2025 (GLOBE NEWSWIRE) &#8212; Gainey McKenna &amp; Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of all persons or entities who purchased the securities of Edison International (\u201cEdison\u201d or the \u201cCompany\u201d) (NYSE: EIX) between February 25, 2021 and February 6, 2025, both dates inclusive (the \u201cClass Period\u201d). The Complaint alleges that Defendants throughout the Class Period made false and\/or misleading statements and\/or failed to disclose that: (1) Edison\u2019s claim that Southern California Edison Company (\u201cSCE\u201d) used its Public Safety Power Shutoffs (&#8220;PSPS&#8221;) program to \u201cproactively de-energize power lines to mitigate the risk of catastrophic wildfires during extreme weather events\u201d, &hellip; Continue reading &quot;Gainey McKenna &amp; Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Against Edison International (EIX)&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-edison-international-eix\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-12T21:32:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTM1NzU4NSM2NzQ4ODE3IzIwMTc3MDQ=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-edison-international-eix\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-edison-international-eix\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Gainey McKenna &amp; 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