According to the Complaint, Edison International is the parent holding company of SCE. SCE is an investor-owned public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company failed to maintain electricity transmission and distribution networks in compliance with safety requirements and regulations promulgated under state law; (ii) consequently, the Company was in violation of state law and regulations; (iii) the Company’s noncompliant electricity networks created a significantly heightened risk of wildfires in California; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On February 7, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated amended Complaint on April 29. On November 27, Lead Plaintiff filed a consolidated second amended Complaint. Defendants filed Motions to Dismiss the consolidated second amended Complaint on December 17.

On April 5, 2021, the Court issued an Order granting Defendants' Motions to Dismiss. Plaintiff was given leave to amend the Complaint. Plaintiff did not file an amended Complaint, and on May 6, the Court issued an Order dismissing the case with prejudice. Lead Plaintiff filed a notice appealing the Court's Dismissal Order on June 4.

On March 18, 2022, the Court of Appeals affirmed the District Court's Dismissal Order.