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Hawaiian Electric said Monday its power lines started a fire that was quickly extinguished earlier this month, but power had been turned off six hours before a second fire emerged.
Hawaiian Electric on Monday disputed accusations that its power lines caused the deadly wildfires in Maui earlier this month, which killed at least 115 people.
Shares of Hawaiian Electric (HE) are shooting up this morning, showing hints of a slight rebound since falling over the speculated connections to the Maui wildfires. Yahoo Finance Live monitors the utility company's stock and how it is calling the lawsuit brought forth by Maui County "irresponsible.
Shares of Hawaiian Electric Industries Inc. skyrocketed after the electric company responded to a lawsuit filed by Maui County over the deadly Lahaina fires, by calling the suit “factually and legally irresponsible.”
Hawaiian Electric said power lines toppled by high winds likely caused the morning fire in Lahaina but electricity was off when a second fire occurred.
Hawaiian Electric (NYSE: HE ) stock is on the rise Monday after the company refuted claims that it was responsible for the Maui wildfires. In responding to a lawsuit seeking to hold it accountable for the wildfires, Hawaiian Electric notes that its power lines had been de-energized for six hours before the fire started.
The company said it believes a lawsuit from Maui County that it acted negligently before deadly wildfires on the island is “factually and legally irresponsible.”
Hawaiian Electric on Monday said that the lawsuit filed against it by the County of Maui is "factually and legally irresponsible," pointing to the county's responsibility in the Hawaii wildfires.
Shares of Hawaiian Electric tanked 75% this month as credit rating downgrades and lawsuits piled up.
Hawaiian Electric Industries (NYSE: HE ) stock is decreasing on Friday after the company provided investors with an update after the Maui wildfires. According to a press release from the company, it's taking certain actions in response to the wildfire.