Reported 1 day ago
Edison International's stock dropped about 12% following an investigation by California fire authorities into the role of its subsidiary, Southern California Edison (SCE), in the recent Los Angeles wildfires. SCE is under scrutiny for a power line that may have sparked the fires, which have led to at least 24 deaths and massive destruction of property. Additionally, a mass action lawsuit has been filed against SCE, with many residents seeking to join. The financial impact of the blazes is estimated between $250 billion and $275 billion.
Source: YAHOO