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HE.US
id: 809
Hawaiian Electric Industries ($HE) $47.75M Investor Settlement
Eligible claimants can submit their claims for compensation.
$47,750,000
Cash SettlementN.D. California
Court3:23-cv-04332
Case number02/28/2019
Class period Start09/04/2023
Class period End06/25/2026
Claim deadlineHawaiian Electric Industries has reached a settlement with $HE investors to resolve claims that it did not fully disclose risks related to its electrical equipment and wildfire safety practices.
Outline:
In 2023, Hawaiian Electric disclosed information about wildfire risk and the condition of its power grid, including its use of overhead power lines and vegetation management practices. After the Lahaina wildfire, reports said the company’s power lines and poles may have contributed to the fire. Following these disclosures, $HE fell sharply, and shareholders filed a lawsuit.
Timeline:
- August 7–8, 2023: High winds and dry conditions affected Maui; a wildfire broke out in Lahaina on August 8.
- August 2023: Lawsuits alleged that Hawaiian Electric’s power lines and poles contributed to the start and spread of the fire.
- August–September 2023: $HE declined sharply, falling by about 49% amid concerns over liability and disclosures.
- Late 2023: Investors filed a class action lawsuit against Hawaiian Electric.
- January 5, 2026: Hawaiian Electric reached a settlement with investors to resolve the claims.
Background:
From 2019 through 2023, Hawaiian Electric Industries said in its wildfire reports that it was working to reduce fire risk through equipment maintenance and safety programs.
The company pointed to actions such as power pole inspections, vegetation clearing, and grid upgrades as part of its efforts to limit wildfire risk across Hawaii.
After later disclosures, it emerged that parts of Hawaiian Electric’s system were not properly maintained and that fire risks were not adequately addressed in areas prone to strong winds and dry conditions.
On August 8, 2023, a wildfire broke out in Lahaina, Maui, during strong winds. Afterward, lawsuits said that Hawaiian Electric’s power lines and poles played a role in starting and spreading the blaze. The wildfire caused widespread damage and loss of life.
After the wildfire and related lawsuits in August and September 2023, Hawaiian Electric’s stock fell sharply.
During that period, $HE dropped by about 49% as investors reacted to the potential financial impact and questions about the company’s fire safety efforts.
Following these events, investors filed a class action lawsuit, claiming that Hawaiian Electric did not fully disclose risks tied to its equipment and safety practices.
What Can Investors Expect Now?
Hawaiian Electric Industries has reached a settlement with $HE investors to resolve claims that it did not fully disclose risks related to its electrical equipment and wildfire safety practices.
If you were damaged due to this situation, you can file for a payout and get your share of the settlement. You can check if you are eligible and other details in the FAQ section below.
Case Type
US Securities Class Action
Case Status
Accepting Claims
Alleged Offence
Misleading Statements,
Failure to Disclose,
Negligence,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.57
Filing date
08/24/2023
Lead Plaintiff Deadline
10/23/2023
Plaintiffs
Bhapinderpal S. Bhangal
Attorneys
Pomerantz LLP (New York, NY), Portnoy Law Firm (Los Angeles, CA)
Defendants
Constance H. Lau, Scott W. H. Seu, Gregory C. Hazelton, Paul K. Ito
Judge
Hon. Jacqueline Scott Corley
Administrator
Verita Global
Settlement agreement date
2026-01-05
Court hearing date
08/13/2026
Exclusion deadline
06/25/2026
Objection deadline
06/25/2026
Hearing deadline
08/13/2026
Attorney fee
$16,415,075
Trades matching type
FIFO
Frequently Asked Questions
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