The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Hawaiian Electric Industries, Inc. (NYSE: HE) who purchased securities between February 28, 2019 and August 16, 2023. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Hawaiian Electric lawsuit alleges that (i) Hawaiian Electric’s wildfire prevention and safety protocols and procedures were inadequate to meet the challenges for which they were ostensibly designed; (ii) 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 (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until October 23, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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