By Larry Bracken, Michael Levine and Geoffrey Fehling (December 19, 2018, 3:41 PM EST) -- Last month, a shareholder of Edison, the public utility company blamed for starting or contributing to the recent wildfires in Southern California, filed a securities class action complaint alleging that Edison failed to disclose that its electricity transmission and distribution networks were noncompliant with state law and that the noncompliant electricity network created a significant risk of wildfires in California. In the recent expert analysis, Examining A Post-Wildfire Securities Suit, Kevin LaCroix of RT ProExec discussed this so-called "event-driven securities litigation," a new kind of securities class action that relies on specific adverse events, rather than fraudulent financial disclosures or accounting issues, as the catalyst for targeting both companies and their directors and officers for the resulting drop in stock price....
Law360 is on it, so you are, too.
A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence. Over 200 articles are published daily across more than 60 topics, industries, practice areas and jurisdictions.
