LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz announces an investigation of Hawaiian Electric Industries, Inc. (“Hawaiian Electric” or the “Company”) (NYSE: HE) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On August 13, 2023, The Washington Post reported that “Hawaiian Electric . . . did not deploy what’s known as a ‘public power shutoff plan,’ which involves intentionally cutting off electricity to areas where big wind events could spark fires” and that a class-action lawsuit was filed against Hawaiian Electric alleging that its downed power lines caused the fires in Maui.
On this news, Hawaiian Electric’s stock price fell $10.94, or 33.8%, to close at $21.46 per share on August 14, 2023, thereby injuring investors.
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If you purchased Hawaiian Electric securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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