| COMPANY |
Hawaiian Electric Industries, Inc. |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
23-cv-04332 |
| JUDGE |
The Hon. Jacqueline Scott Corley |
| CLASS PERIOD |
February 28, 2019 and August 16, 2023 |
| SECURITY TYPE |
Securities |
Case Background:
Kessler Topaz Meltzer & Check, LLP filed a class action lawsuit on behalf of those who purchased or acquired Hawaiian Electric Industries, Inc. (“Hawaiian Electric”) (NYSE: HE) securities between February 28, 2019 and August 16, 2023, both dates inclusive (the “Class Period”).
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the company's business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Hawaiian Electric's wildfire prevention and safety protocols and procedures were inadequate to meet the challenges for which they were ostensibly designed; (2) accordingly, despite knowing the degree of risk that wildfires posed to Maui, the company's inadequate safety protocols and procedures placed Maui at a heightened risk of devastating wildfires; and (3) as a result, Defendant's public statements were materially false and misleading at all relevant times.
Current Status of Case:
On March 8, 2024, Lead Plaintiffs filed a Complaint. Defendants filed a Motion to Dismiss the Amended Complaint on May 7, 2024. On October 15, 2024, the Court granted the Motion to Dismiss and permitted the Lead Plaintiffs to file an subsequent amended complaint to address the deficiencies. Lead Plaintiffs filed an Amended Complaint on November 12, 2024. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.