Hawaiian Electric Faces Suits by Investors, Maui Over Fires
- Suits points to wildfire safety protocol in wake of disaster
- Securities complaint appears to be the first targeting utility
Employees of the Hawaiian Electric restore electric poles in the aftermath of the Maui wildfires in Lahaina, Hawaii on Aug. 16.
Photographer: Yuki Iwamura/AFP/Getty Images
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Hawaiian Electric Industries Inc. was hit with lawsuits by investors and Maui County claiming the utility didn’t cut power and take safety measures to contain raging flames that engulfed the city of Lahaina this month.
Hawaiian Electric’s share price has plummeted since the wildfires that broke out two and a half weeks ago, drawing a complaint from investors in San Francisco federal court alleging that the utility’s compromised safety protocols put the island at a heightened risk.