Hawaiian Electric Investors Alerted to Class Action Lawsuit for Alleged Securities Fraud
Investors in Hawaiian Electric Industries, Inc. (Hawaiian Electric or the Company) have been notified of a class action securities lawsuit due to allegations of securities fraud. The law firm Levi & Korsinsky, LLP has informed investors about the lawsuit, which aims to recover losses suffered between February 28, 2019, and August 16, 2023. The lawsuit alleges that the defendants made false statements and concealed information regarding the adequacy of the Company’s wildfire prevention and safety protocols.
According to the complaint, Hawaiian Electric’s safety protocols were inadequate to address the risks posed by wildfires, particularly in Maui. The lawsuit claims that the Company’s misleading public statements contributed to increased risks of devastating wildfires. Investors who suffered losses during the specified time frame have until October 23, 2023, to request to be appointed as lead plaintiffs in the case.
Levi & Korsinsky, LLP, which has a successful track record in securities litigation, is representing the investors. The firm has extensive experience handling complex securities cases and is recognized as one of the top securities litigation firms in the United States.
Investors who qualify as class members may be entitled to compensation without any out-of-pocket costs or fees. Participation in the lawsuit does not require serving as a lead plaintiff. Investors who wish to learn more about the lawsuit or seek compensation can follow the provided link to access additional information and get in touch with Levi & Korsinsky, LLP. Alternatively, they can contact Joseph E. Levi, Esq. via email or telephone.
The class action lawsuit against Hawaiian Electric highlights the importance of transparency and accurate disclosure of information by companies to their investors. As the case progresses, it will be interesting to see how the courts evaluate the alleged securities fraud claims and whether the investors will be able to recover their losses.
