Hawaiian Electric Industries Inc. and investors have reached an agreement to settle class allegations that the utility misrepresented its wildfire risk management in advance of the August 2023 Lahaina fire, according to a court filing.
The terms of the securities fraud settlement aren’t available yet. The investors anticipate finalizing the agreement and asking for the court’s approval by Dec. 26, the parties told the US District Court for the Northern District of California.
- In the aftermath of the fire—which killed 101 people, destroyed the historic town of Lahaina, and caused more than $5.5 billion in damages—news organizations reported that Hawaiian ...