New York, New York--(Newsfile Corp. - August 22, 2023) - Pomerantz LLP is investigating claims on behalf of investors of Hawaiian Electric Industries, Inc.("Hawaiian Electric" or the "Company") (NYSE: HE). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Hawaiian Electric and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On August 14, 2023, news outlets began reporting that Hawaiian Electric did not have a plan to shut off power in advance of dangerous winds that spread the disastrous wildfire through Maui that has killed at least 93 people, with many more still missing. Specifically, it was revealed that the Company, which oversees Maui Electric and provides service to 95% of Hawaiian residents, did not deploy a public power shutoff plan, which involves intentionally cutting off electricity to areas where big wind events could spark fires.
On this news, Hawaiian Electric's stock price fell $10.94 per share, or 33.76%, to close at $21.46 per share on August 14, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/178130
