Why Edison International Stock Just Crashed

California electric utility stock Edison International (NYSE: EIX) crashed 24.2% through 2 p.m. ET Monday after a legislative effort in Sacramento to limit utilities' exposure to lawsuits from insurance companies fell apart over the weekend.Image source: Getty Images.As Sacramento NBC affiliate KCRA 3 reports, Gov. Gavin Newsom was promoting legislation that would partially insulate Edison International and similar utilities from liability for wildfires caused when their equipment malfunctions. When homes are destroyed in a wildfire, homeowners file home insurance claims with their insurance companies -- which in turn try to "subrogate" their liability by suing the electric utility they deem responsible for the fire. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool