Update: Market Chatter: Edison International Utility Hit With Lawsuit Over Wildfire in Los Angeles-July 2024-www.financetom.com

Update: Market Chatter: Edison International Utility Hit With Lawsuit Over Wildfire in Los Angeles

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Update: Market Chatter: Edison International Utility Hit With Lawsuit Over Wildfire in Los Angeles

Jan 13, 2025 11:21 AM

01:51 PM EST, 01/13/2025 (MT Newswires) -- (Updates with details throughout.)

Edison International's ( EIX ) southern California utility is facing a lawsuit blaming the company's equipment for igniting a wildfire in Los Angeles, Bloomberg reported Monday.

The legal complaint, filed in Los Angeles Superior Court on behalf of the stakeholders with properties damaged by the Eaton Fire, blames the fire in the Altadena community to a Southern California Edison power distribution line pole.

The suit blamed the utility's lack of maintenance of its electrical infrastructure as a reason for the wildfire.

The court is yet to process the complaint, the report said.

Edison International ( EIX ) shares were down over 12% in recent trading.

SoCalEd did not immediately respond to request for comments by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 56.92, Change: -8.08, Percent Change: -12.43

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