Hawaiian Electric's stock rockets after update on cause of Lahaina fires

Shares of Hawaiian Electric Industries Inc. surged after the company responded to a lawsuit over the Lahaina fires by calling it "factually and legally irresponsible," stating that the fires appeared to be caused by fallen power lines and that the second fire occurred after the lines had been de-energized for over six hours.

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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

UPDATE 1-S&P downgrades Hawaiian Electric to 'B-' as wildfires raise market-access worries

S&P Global Ratings has downgraded Hawaiian Electric Industries and its subsidiaries due to the company's likely inconsistent access to capital markets following the Maui wildfires, which may result in adverse developments regarding its debt service capacity.

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

Bare and uninsulated power lines were possible cause of Hawaii wildfires

The Maui fires that caused the deadliest US wildfire in over a century were exacerbated by bare, uninsulated power lines and poor-quality power poles that did not meet safety standards, leading to a spate of lawsuits against Hawaiian Electric.

8/28/2023

Hawaiian Electric Stock Surges 40% After Pushing Back on Maui Wildfire Allegations

Hawaiian Electric Industries stock jumps 40% after denying allegations that its power lines caused a fatal wildfire in Maui.

8/30/2023

SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Hawaiian Electric Industries, Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of October 23, 2023 – (NYSE: HE)

The Gross Law Firm issues a notice to shareholders of Hawaiian Electric Industries, Inc., encouraging them to contact the firm regarding a possible lead plaintiff appointment in a class action lawsuit alleging that the company's inadequate safety protocols and procedures placed Maui at a heightened risk of devastating wildfires, leading to materially false and misleading statements.