NEW YORK, Aug. 17, 2015 /PRNewswire/ -- Faruqi &
Faruqi, LLP, a leading national securities law firm, reminds
investors in Edison International ("Edison" or the "Company") (NYSE:EIX) of the
September 4, 2015 deadline to seek
the role of lead plaintiff in a federal securities class action
lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the United States District Court
for the Southern District of California, on behalf of a class consisting of
all persons or entities who purchased Edison securities between July 31, 2014 and June 24,
2015 (the "Class Period").
The complaint focuses on whether the Company and its executives
violated federal securities laws. On February 9, 2015, Southern California Edison
("SCE"), the largest subsidiary of Edison International, submitted
a notice to the California Public Utilities Commission ("CPUC") in
which the Company disclosed formerly unreported ex parte contact
between Michael Peevey, former
president of the CPUC, and Stephen
Pickett, a former executive vice president at SCE. The
Company's failure to timely report this ex parte meeting was
investigated for possible violations of CPUC rules. Documents
released from the investigation revealed that the March 26, 2013 meeting concerned the SONGS
Settlement negotiations and their investigation by CPUC.
According to an article published on May
4, 2015 by SFGate, the aforementioned ex parte contact was
not the only previously unreported ex parte meeting between
Michael Peevey and SCE executives.
The article disclosed that on May
2014, the parties discussed donating millions of dollars to
a UCLA institute at which Peevey held
an advisory post.
After the publication of this article, shares of the Company
dropped $2.87 per share over two days
of trading, or roughly 3.75%, to close at $59.60 on May 6,
2015.
Then, on June 24, 2015, in
response to the an independent report commissioned by the CPUC
which described the Company's ex parte meetings as "frequent,
pervasive, and at least sometimes outcome-determinative," The
Utility Reform Network 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 of Edison declined $1.56 per share or over 2.70%, to close at
$56.07 on June
24, 2015.
Request more information now by clicking here:
www.faruqilaw.com/EIX. There is no cost or obligation to
you.
Take Action
If you invested in Edison stock
or options between July 31, 2014 and
June 24, 2015 and would like to
discuss your legal rights, visit www.faruqilaw.com/EIX. You
can also contact us by calling Richard
Gonnello toll free at 877-247-4292 or at 212-983-9330 or by
sending an e-mail to rgonnello@faruqilaw.com. Faruqi &
Faruqi, LLP also encourages anyone with information regarding
Edison's conduct to contact the
firm, including whistleblowers, former employees, shareholders and
others.
Attorney Advertising. The law firm responsible for this
advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or
predict a similar outcome with respect to any future matter.
We welcome the opportunity to discuss your particular case.
All communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello,
Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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