Class Action Lawsuit on Behalf of Edison International Investors
Edison International Lawsuit Details
Gilman Law LLP has announced that on July 6, 2015 a federal securities class action lawsuit was filed on behalf of purchasers of Edison International (NASDAQ: EIX) common stock alleging the company risked its $3.3 billion settlement with the California Public Utilities Commission (“CPUC”) over the shutdown of a leaky nuclear reactor by covering up improper contact with the agency. The plaintiff accuses Southern California Edison, Edison International’s largest subsidiary, of causing the company’s stock values to drop amid reports of ex parte meetings about the settlement. The complaint explains that Edison failed to disclose the meeting of its executives and CPUC decision makers in the run-up to the settlement over the malfunctioning reactor, and now that is information is public, share values have dropped and the settlement is in danger. As a result of the meetings becoming public, Edison International fell to $56.07 On June 24, 2015 from $62.00 per share before the information on the secret meetings became public in May, 2015.
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