The parent company of Southern California Edison has been sued for allegedly defrauding shareholders before the recent Los Angeles-area wildfires by assuring them it could shut down power lines to reduce the risk of catastrophic damage.
Tuesday’s proposed class action against Edison International appeared to be the first shareholder lawsuit stemming from the Eaton Fire, which broke out on January 7 east of Los Angeles in Altadena, California during a Santa Ana windstorm.
Related: Edison Probing Retired Power Line as Possible Start of LA Eaton Fire
The fire burned more than 14,000 acres, destroyed more