The stock has lost more than half its value since the Aug. 8 wildfires. Hawaiian Electric said the lawsuit filed against it by the county of Maui was "factually and legally irresponsible," pointing to the county's responsibility in the Hawaii wildfires. The county of Maui last week sued Hawaiian Electric, accusing the utility of acting negligently by failing to shut down its equipment despite warnings that hurricane winds could knock power lines down, sparking wildfires.
Hawaiian Electric Company, the electric company that was sued by Maui last week, responded to the lawsuit over the weekend. In the official response, the company also faulted local firefighters for leaving the scene of the fire too early.
The county said downed power lines started the wildfires that destroyed the historic town of Lahaina earlier this month, killing at least 115 people and displacing hundreds more. The electric company and its subsidiary Maui Electric had a duty to manage the power lines in a safe manner and had been warned by the National Weather Service that dangerous wildfire conditions were present before they started, the county said.