Prosecutors narrow their case ahead of the retrial of the man accused of setting the Palisades fire

Los Angeles (AP) — Federal prosecutors will pursue fewer charges in their second attempt to convict a man accused of starting the deadly 2025 wildfire that became the most destructive in Los Angeles' history.

A jury deadlocked in June over whether to convict Jonathan Rinderknecht of intentionally sparking the fire that killed 12 people as it incinerated much of the Pacific Palisades and other neighborhoods in Malibu. Ten out of 12 jurors wanted to acquit him on all three felony charges, leading the judge to declare a mistrial. Federal prosecutors vowed to try again, and a second trial is set to start in the fall.

In a new indictment filed Thursday, prosecutors reduced their case against Rinderknecht to two charges and narrowed their scope.

Prosecutors allege that Rinderknecht used a barbecue lighter on Jan. 1, 2025, to spark a fire that burned undetected deep in root systems before flaring back up Jan. 7 to become the Palisades fire, which destroyed more than 6,800 buildings.

All three charges in the first trial blamed Rinderknecht for setting both the Jan. 1 fire and the Palisades Fire. In the new indictment, only one charge references both fires. The other only focuses on the destruction caused by the first fire.

Rinderknecht’s attorney and a spokesperson for the U.S. attorney’s office declined to comment on the new indictment. U.S. District Judge Anne Hwang is holding a status conference for an arraignment on Wednesday.

Throughout the first trial, prosecutors argued that Rinderknecht was the only person in the area when the Jan. 1 fire began and presented a digital trail seeking to show he was motivated by a desire to take revenge on society over rampant economic inequality. They also presented hours of recorded interviews with Rinderknecht in which he offered inconsistent recollections about his movements that night.

Rinderknecht's attorneys argued that prosecutors lacked direct evidence showing that he started the fire and that they failed to consider fireworks as a potential cause of the first fire.

FILE - This undated photo provided by the U.S. Attorney's Office shows Jonathan Rinderknecht, a suspect in the Palisades Fire. (U.S. Attorney's Office via AP, File)

FILE - Water is dropped by helicopter on the advancing Palisades Fire in the Pacific Palisades neighborhood of Los Angeles, Jan. 7, 2025. (AP Photo/Etienne Laurent, File)

NEW YORK (AP) — Reddit will join the S&P 500 next week, giving the wide-ranging online forum a boost in prestige and investments.

Joining the S&P 500 is considered an achievement for a company because the index is a widely followed measure of the broader U.S. stock market’s health. A company is selected for the index based on several criteria that demonstrate stability, including market size and consistent profitability.

Reddit's stock surged 12.6% Friday.

Aside from status, inclusion means more investments. The index tracks 500 of the biggest U.S. stocks, and trillions of dollars in investments benchmark themselves against it. Those investments include mutual funds and exchange-traded funds. Essentially, those funds will have to buy the stock once it becomes part of the index that the fund is tracking or mimicking.

Investors are depending more than ever on funds that simply mimic indexes such as the S&P 500. It’s a lower-cost way to invest, allowing savers to keep more of their investments. Partly because of that, such index funds have usually proven to be better performers than funds that try to pick and choose individual stocks.

Reddit will join the benchmark index as of Tuesday. A stock must trade publicly for at least 12 months to join the S&P 500. The operator of the index, S&P Dow Jones Indices, stuck to that guideline recently when it declined to fast-track SpaceX into the index after the space exploration company's massive initial public offering in June.

Reddit's inclusion comes weeks after it posted strong financial results for the second quarter. That included its highest-ever quarterly revenue. The company has been posting profits almost every quarter since it went public in 2024.

Wall Street expects profits to more than double overall in 2026 on a surge in revenue.

FILE - Reddit Inc. logos are displayed on the New York Stock Exchange trading floor, prior to the company's IPO, Thursday, March. 21, 2024. (AP Photo/Yuki Iwamura, File)