Investigation Overview
June 26, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Edison International (NYSE:EIX) shares over potential securities laws violations by Edison International and certain of its directors and officers in connection certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Edison International (NYSE:EIX) concerning whether a series of statements by Edison International regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Edison International reported that its annual Total Revenue rose from over $11.86 billion in 2012 to over $13.41 billion in 2014 and that its Net Loss of $92.00 million in 2012 turned into a Net Income of over $1.72 billion in 2014.
Shares of Edison International (NYSE:EIX) grew from $34.78 per share in August 2011 to as high as $69.05 per share in late January 2015.
Then on June 24, 2015 a report was published that stated Edison International stock declined 'in reaction to news that the Utility Reform Network consumer group is recommending the California Public Utilities Commission throw out the already-approved settlement in the San Onofre nuclear plant investigation.'
Shares of Edison International (NYSE:EIX) declined on June 24, 2015, to as low as $55.18 per share.