Hawaiian Electric points finger at Maui County over devastating wildfires, stock jumps 40%
Publishing timestamp: 2023-08-28 14:24:34
Summary
Hawaiian Electric is pushing back against a lawsuit filed by Maui County, which blames the company for triggering wildfires that have caused significant damage and loss of life. The utility claims that power lines toppled by high winds likely caused a morning brush fire, but electricity had been off for hours when a second fire occurred in the afternoon. Hawaiian Electric's stock has soared, and the company is facing multiple lawsuits and potential liability. The cause of the wildfires is still under investigation.
Sentiment: NEUTRAL
Tickers: HE,
Keywords: breaking news: politics, business, hawaiian electric industries inc, climate, business news, politics, breaking news: business, lawsuits, hawaii, utilities,
Source: https://www.cnbc.com/2023/08/28/hawaiian-electric-points-finger-at-maui-county-over-wildfires.html