Hawaiian Electric Industries Inc. and investors agreed to a $47.75 million settlement to resolve allegations the utility misrepresented its wildfire risk management ahead of the deadly 2023 Lahaina fire.
The investors sought preliminary approval of the deal and certification of a settlement class comprised of those who acquired its securities from Feb. 28, 2019, through Sept. 4, 2023, according to a filing in the US District Court for the Northern District of California Monday.
The agreement—in which the utility denied wrongdoing—would end allegations against HEI and subsidiary Hawaiian Electric Co. Inc. tied to a stock decline in the aftermath of ...
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