No. of Recommendations: 4

I don't know if any of you are still following Edison Mission. But I received an interesting Google alert about an article of interest and thought I would share. Excerpted from the article,

The official committee representing unsecured creditors in Edison Mission's Chapter 11 bankruptcy case on Wednesday filed papers asking the bankruptcy court to grant it the right to bring the lawsuit.

While heavily redacted, the committee's motion says their ongoing investigation has discovered numerous potential claims against Edison International, various subsidiaries and certain current and former directors of Edison Mission. Those potential claims include fraud, negligent misrepresentation, breach of fiduciary duty, aiding and abetting breach of fiduciary duty and unjust enrichment.

Read more:

I imagine the parent company will offer some kind of settlement to make this go away. Sounds like if you're still holding any of these bonds it might be worth hanging on to see where it goes.

- Joel
Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.