Hawaiian Electric's Stock Leaps After It Disputes Cause of Deadly Lahaina Fire

Hawaiian Electric's stock surges nearly 44% after disputing claims that its power lines caused a deadly wildfire in Lahaina, stating that it had cut off electricity prior to the blaze.

wsj.com

Relevant topic timeline:

8/24/2023

Maui utility may have compromised evidence in probe of deadly fire, lawyers say

The Hawaii power utility, Hawaiian Electric, may have removed crucial evidence from the scene of the deadly Lahaina fire, potentially impeding the official investigation into the blaze's cause.

8/24/2023

Maui government files lawsuit, accuses Hawaiian electric company of causing Lahaina wildfires

Maui County has filed a lawsuit against the Hawaiian Electric Company, claiming that the utility company's negligence in keeping power lines energized during high wind conditions caused the devastating wildfires that killed over 100 people and burned thousands of acres of land.

8/25/2023

Maui Alleges Hawaiian Electric Caused Lahaina Wildfire

Maui accuses Hawaiian Electric of causing the Lahaina wildfire.

8/25/2023

Hawaiian Electric Suspends Dividend. Stock Drops on Legal, Cash Flow Troubles.

Hawaiian Electric has suspended its dividend and faced legal and cash flow troubles, resulting in a drop in its stock.

8/26/2023

Fact Check Team: Maui government, residents sue Hawaiian power company over alleged involv

A devastating wildfire in Lahaina, Hawaii has caused widespread destruction.

8/26/2023

Bare electrical wire and poles in need of replacement on Maui were little match for strong winds

The Maui fires were caused by bare, uninsulated power lines and deteriorating wooden power poles that did not meet safety standards, leaving the infrastructure compromised and vulnerable to high winds and sparking, according to videos and images analyzed by The Associated Press.