Southern California Edison, a unit of utility Edison International, was hit on Monday with multiple lawsuits claiming its electrical equipment started one of the major wildfires raging in the Los Angeles area,

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

Valued at $22.8 billion by market cap, Edison International (EIX) is a leading energy company serving millions of customers across Southern California. Headquartered in Rosemead, California, the company,

Edison International — the parent company of the utility Southern California Edison — has seen its stock remain under pressure as lawsuits begin over its potential role in the fires that have ravaged parts of Southern California.

As of late last week, investigations were under way into whether equipment owned and operated by Southern California Edison, the utility subsidiary of

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.

Altadena residents said in separate lawsuits that the utility’s electrical equipment had sparked the fire, which grew to consume 14,000 acres.

Before the Southern California wildfires began in early January, Edison International was well positioned to grow faster than most utilities as California pursued ambitious clean energy targets.

In separate lawsuits, Benjamin Crump and the NAACP are going after Southern California Electric on behalf of Eaton fire victims.

Despite these claims, the new surveillance video and statements from plaintiffs' counsel have prompted further investigation into the condition of Edison's equipment in Eaton Canyon. The company is taking measures to preserve evidence and cooperate with requests for information from fire agency investigators and plaintiffs' law firms.

Edison International's wildfire mitigation plan update approved by CPUC, but Moody's warns of potential credit risk from Eaton Fire in LA County.

A judge ordered Southern California Edison to preserve data, equipment and evidence about the origins of the Eaton fire. Several homeowners have sued the utility company, alleging its equipment ...