Robbins Arroyo LLP Is Investigating the Officers and Directors of Edison International (EIX) on Behalf of Shareholders
Robbins Arroyo LLP is investigating whether certain officers and directors of Edison International (NYSE: EIX) breached their fiduciary duties to shareholders. Edison, through its subsidiaries, generates and supplies electricity through hydroelectric, diesel, natural gas, nuclear, and photovoltaic sources.
Edison International Investigated for Possible Favoritism
In November 2014, a settlement approved by the Public Utilities Commission (“PUC”) required customers of Edison and San Diego Gas & Electric to pay $3.3 billion of the $4.7 billion total cost of permanently closing the San Onofre nuclear plant.
According to recent reports, evidence has emerged suggesting that the San Onofre settlement was created during a secret meeting in Warsaw, Poland between former PUC President Michael Peevey and an Edison executive. Notes from this meeting are the subject of state and federal criminal investigations into possible favoritism of utility executives by the regulators that oversee them. On June 24, 2015, the Utility Reform Network—the San Francisco consumer group that helped broker this deal—stated that it no longer supports the agreement and recommends the settlement be thrown out.
Edison International Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, or you can complete the form below and we will contact you directly.