Hawaiian Electric Stock Plunges 40% After Lawsuit Alleges it Failed to Shut Power Off Ahead of the Maui Wildfires
Hawaiian Electric, a prominent utility provider supplying power to 95% of Hawaii’s residents, experienced a significant blow to its stock value, sinking to a 13-year low with a nearly 40% plummet on Monday morning. The steep decline follows the emergence of a class action lawsuit that asserts the utility’s energized power lines, toppled by strong…