Hawaiian Electric Industries fell sharply on the US stock market on the 14th. A devastating wildfire on the island of Maui, Hawaii, that killed dozens of people has sparked fears that the company’s power lines may be involved.
Hawaiian Electric shares fell more than 42% to $18.70 on Monday morning. The company has been criticized for not shutting down power transmission despite forecasts that dry, strong winds could lead to dangerous conditions. Lawyers plan to file a lawsuit later this week, alleging that Hawaiian Electric equipment may have been the source of the fire.
Authorities have not yet determined the cause of the wildfires. Hawaiian Electric also explained that they do not have information about a possible cause. Hawaii Attorney General Roberts Robes said on Thursday that he would launch an investigation into the authorities’ response to the wildfires. More than 90 people have died in this fire.
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news-rsf-original-reference paywall">Original title:Hawaiian Electric Tumbles as Lawyers Investigate Fire Cause (2)(excerpt)
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2023-08-14 14:39:03
