BOULDER, Colo., Nov. 13, 2008 (GLOBE NEWSWIRE) -- Advertising Material - The Shuman Law Firm today announced that it is investigating possible claims against certain officers and directors of Edison International ("Edison") (NYSE:EIX) who may have caused Edison's subsidiary Southern California Edison Company ("SoCal Edison") to submit false and misleading data to state regulators.
Edison is engaged in the business of holding, for investment, the common stock of its subsidiaries. Edison has three segments: an electric utility operation segment, a non utility power generation segment, and a financial services provider segment. In the electric utility operation segment, the Company operates through its subsidiary, SoCal Edison. On September 18, 2008, the California Public Utilities Commission ("CPUC") ordered SoCal Edison to pay a total of $146 million for falsifying customer-satisfaction and worker-safety data from 1997 to 2003. The CPUC determined that SoCal Edison submitted false and misleading data pertaining to customer-satisfaction rates and employee health and safety to enable SoCal Edison to qualify for performance bonuses it received from Californians who paid excessive rates for electricity as a result of SoCal Edison's falsified data. In its findings against SoCal Edison, the CPUC specifically noted that "the evidence is overwhelming that senior management knew of the manipulation and falsification."
If you currently own Edison common stock and would like a free consultation concerning your rights and interests, please contact Kip Shuman, Esq. or Rusty Glenn, Esq. toll-free at 866-974-8626 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative actions.
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