California utility was sued Monday on claims that its electrical equipment ignited one of the major wildfires raging in the Los Angeles area, according to court filings, likely the first of thousands of legal claims that will be tied to the fires.

Two lawsuits, filed on Monday in Los Angeles Superior Court, allege Edison's failure to maintain vegetation and de-energize transmission poles caused the Eaton fire in Los Angeles.

Hueston Hennigan partners Douglas Dixon, in Newport Beach, and Brittani Jackson, in Los Angeles, appeared at a Tuesday hearing for Southern California Edison.

Barclays (LON:BARC) analyst Nicholas Campanella revised the price target for Edison International (NYSE:EIX) shares, reducing it to $67.00 from the previous $76.00, while maintaining an Overweight rating on the company's stock.

The catastrophic wildfires in Los Angeles County have rocked the stock of Edison International, the parent company of Southern California Edison.

The L.A.-area fires may pose the first big test of California’s wildfire fund, which was set up in 2019 to protect utilities from bankruptcy.

Thousands of firefighters are battling wildfires across 45 square miles of densely populated Los Angeles County. About 92,000 people remain under mandatory evacuation orders and another 89,000 are under evacuation warnings.

Southern California Edison, the electrical utility for Los Angeles, has been sued for its alleged role in starting one of the raging Los Angeles fires that have collectively killed at least 24 people and displaced tens of thousands of people from their homes.

Southern California Edison said fire agencies are investigating whether electrical equipment was involved in the ignition of the Hurst Fire.

NEW YORK, NY / ACCESS Newswire / January 26, 2025 / Levi & Korsinsky notifies investors that it has commenced an investigation of Edison

Dozens of people are believed to have died in the Palisades and Eaton fires, which have burned down whole swaths of communities

Edison International Inc.’s southern California utility was hit with a lawsuit blaming the energy provider’s equipment for igniting one of the wildfires still raging in the second-largest US metropolis.