Hawaiian Electric Investors: October 23, 2023 Filing Deadline in Securities Class Action - Contact Lieff Cabraser
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Sep 18, 2023, 9:15 AM ET
SAN FRANCISCO, CA / ACCESSWIRE / September 18, 2023 / National plaintiffs law firm Lieff Cabraser Heimann & Bernstein, LLP encourages investors in Hawaiian Electric Industries, Inc. ("Hawaiian Electric" or the "Company") who suffered losses from purchasing or otherwise acquiring Hawaiian Electric securities (NYSE:HE) between February 28, 2019 and August 16, 2023 to contact us immediately regarding a pending securities fraud class action against Hawaiian Electric. The deadline to apply to be lead plaintiff is October 23, 2023.
Class Period: February 28, 2019 - August 16, 2023
Lead Plaintiff Motion Deadline: October 23, 2023
Case information: lieffcabraser.com/securities/he
Contact us: Email or text email@example.com or call 1-800-541-7358
Hawaiian Electric is an electric utility company that provides electricity to 95% of Hawaii's residents.
The action alleges that Hawaiian Electric made false and/or misleading statements and/or failed to disclose that: (1) the Company maintained inadequate wildfire prevention and mitigation protocols; and (2) Hawaiian Electric understood the risks posed by wildfires and the shortcomings of its wildfire protocols.
On August 8, 2023, severe wildfires broke out on the Hawaiian island of Maui.
On August 12, 2023, news outlets reported that Hawaiian Electric's wildfire protocols lacked a plan to shut off public power. On this news, the price of the Company's common stock fell $10.94 per share, or 33.76%, from the previous closing price of $32.40 on August 11, 2023, to close at $21.46 per share on August 14, 2023, on extremely heavy trading volume.
On August 16, 2023, The Wall Street Journal published an article entitled "Hawaiian Electric Is in Talks With Restructuring Firms." That day, the price of Hawaiian Electric stock fell $0.22 per share, or 1.49%, from the previous closing price of $14.79 on August 15, 2023, to close at $14.57 per share on August 16, 2023, on extremely heavy trading volume.
On August 17, 2023, The Wall Street Journal published an article entitled "Hawaiian Electric Knew of Wildfire Threat, but Waited Years to Act." On this news, the price of Hawaiian Electric stock fell $2.54 per share, or 17.43%, from the closing price of $14.57 on August 16, 2023, to close at $12.03 per share on August 17, 2023, on extremely heavy trading volume.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with over 120 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Recognized as a "Plaintiffs' Powerhouse" by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $129 billion in verdicts and settlements. For over 50 years, Lieff Cabraser has remained committed to ensuring access to justice for all.
Lieff Cabraser Heimann & Bernstein, LLP
SOURCE: Lieff Cabraser Heimann & Bernstein
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