Hawaiian Electric shares plunge 40% amid wildfire lawsuits
Hawaiian Electric Industries’ shares prices have plunged almost 40% as questions over the cause of the wildfires in Maui continue to mount.
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Hawaiian Electric Industries’ shares prices have plunged almost 40% as questions over the cause of the wildfires in Maui continue to mount.
The wildfire that burnt town Lahaina in Hawaii is estimated to have damaed over 2000 structures with a capital cost of $5.5bn
Hawaiian Electric has yet to ascertain the definitive cause of the fires due to restricted access to the affected areas, which still remain closed off.
Lawyers say evidence points to Hawaiian Electric’s equipment being the possible source of ignition. Read more at straitstimes.com.
Attorneys from three firms say accounts suggest damaged power infrastructure owned by Hawaiian Electric Industries created the spark for the flames.