WILMINGTON, Del., July 8, 2015 /PRNewswire/ -- Rigrodsky &
Long, P.A.:
- Do you, or did you, own shares of Edison International
(NYSE: EIX)?
- Did you purchase your shares between July 31, 2014 and June 24,
2015, inclusive?
- Did you lose money in your investment in Edison
International?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A., including former Special Assistant
United States Attorney, Timothy J.
MacFall, announces that a complaint has been filed in the
United States District Court for the Southern District of
California on behalf of all
persons or entities that purchased the common stock of Edison
International ("Edison" or the
"Company") (NYSE: EIX) between July 31,
2014 and June 24, 2015,
inclusive (the "Class Period"), alleging violations of the
Securities Exchange Act of 1934 against the Company and certain of
its officers (the "Complaint").
If you purchased shares of Edison during the Class Period, or
purchased shares prior to the Class Period and still hold
Edison, and wish to discuss this
action or have any questions concerning this notice or your rights
or interests, please contact Timothy J. MacFall, Esquire or
Peter Allocco of Rigrodsky &
Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by
e-mail to info@rl-legal.com; or at:
http://rigrodskylong.com/investigations/edison-international-eix.
The Complaint alleges that throughout the Class Period,
defendants made materially false and misleading statements, and
omitted materially adverse facts, about the Company's business,
operations and prospects. Specifically, the Complaint alleges
that the defendants concealed from the investing public that: (1)
Edison's ex parte contacts with
the California Public Utilities Commission ("CPUC") decision makers
were more extensive than the Company had reported to CPUC; (2) that
belated disclosure of Edison's ex
parte contacts with CPUC personnel would jeopardize the Company's
$3.3 billion settlement with the San
Onofre Nuclear Generating Station ("SONGS"); and (3) as a result of
the above, the Company's financial statements were materially false
and misleading at all relevant times. As a result of
defendants' alleged false and misleading statements, the Company's
stock traded at artificially inflated prices during the Class
Period.
According to the Complaint, on June 22,
2015, the law firm Strumwasser & Woocher released an
independent report commissioned by the CPUC in connection with a
review of ex parte meetings between utility lobbyists or executives
and CPUC decision makers. The report described such ex parte
meetings as "frequent, pervasive, and at least sometimes
outcome-determinative," and recommended banning them altogether in
rate cases.
Then, on June 24, 2015, in
response to the report and earlier disclosures by Edison's largest subsidiary, Southern
California Edison ("SCE"), the Utility Reform Network ("TURN")
filed an application with the CPUC that charged SCE with "fraud by
concealment" and urged the CPUC to set aside the SONGS settlement
and reopen its investigation.
On this news, shares in Edison,
which traded as high as $69.59 during
the Class Period, closed at $56.00
per share on June 25, 2015, on heavy
trading
volume.
If you wish to serve as lead plaintiff, you must move the Court
no later than September 4,
2015. A lead plaintiff is a representative party
acting on behalf of other class members in directing the
litigation. In order to be appointed lead plaintiff, the
Court must determine that the class member's claim is typical of
the claims of other class members, and that the class member will
adequately represent the class. Your ability to share in any
recovery is not, however, affected by the decision whether or not
to serve as a lead plaintiff. Any member of the proposed
class may move the court to serve as lead plaintiff through counsel
of their choice, or may choose to do nothing and remain an absent
class member.
While Rigrodsky & Long, P.A. did not file the Complaint in
this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates
securities class, derivative and direct actions, shareholder rights
litigation and corporate governance litigation, including claims
for breach of fiduciary duty and proxy violations in the
Delaware Court of Chancery and in
state and federal courts throughout the
United States.
Attorney advertising. Prior results do not guarantee a
similar outcome.
CONTACT:
Rigrodsky & Long, P.A.
Timothy J. MacFall, Esquire
Peter Allocco
(888) 969-4242
(516) 683-3516
Fax: (302) 654-7530
info@rl-legal.com
http://www.rigrodskylong.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/shareholder-alert-rigrodsky--long-pa-announces-a-securities-fraud-class-action-lawsuit-has-been-filed-against-edison-international-300110740.html
SOURCE Rigrodsky & Long, P.A.