Edison Beats Investor Suit Over LA Wildfire Mitigation Steps (1)

Edison International defeated investor allegations over statements about an electricity-shutoff program for wildfire mitigation before the Eaton Fire that devastated the area north of Los Angeles last year.

Statements about the Public Safety Power Shutoff program were too vague for a reasonable investor to have relied on them or establish falsity, Judge Otis D. Wright II said, dismissing the consolidated complaint.

“At best” for the investors leading the case, the challenged statements “would lead a reasonable investor to believe that Defendants’ PSPS operations were strong, but not perfect. At worst for Plaintiffs, the PSPS Statements would lead a reasonable ...