At least two lawsuits against Hawaiian Electric (HE) and its Maui Electric Co. subsidiary have been filed in state court seeking class-action status representing victims of the deadly and destructive Lahaina fire, The Honolulu Star-Advertiser’s Andrew Gomes reports. The fire has killed at least 96 people and destroyed more than 2,700 structures preliminarily valued at $5.6B, Gomes writes. Some attorneys aim to have the utility compensate people for losses through civil litigation that could be similar to a case against PG&E Corp. (PCG) stemming from Northern California, the report notes.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on HE:
- Hawaiian Electric (NYSE: HE) Craters Under Scrutiny for Its Role in Hawaii Wildfires
- Hawaiian Electric price target lowered to $25 from $35 at Wells Fargo
- Ex-Dividend Date Nearing for These 10 Stocks – Week of August 14 – August 18, 2023
- Hawaiian Electric Industries, Inc. (HE) Q2 Earnings Cheat Sheet
- Hawaiian Electric price target lowered to $37 from $39 at Guggenheim