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Hawaiian Electric Investors: October 23, 2023 Filing Deadline in Securities Class Action – Contact Lieff Cabraser

Published: 2023-09-12 13:15:00 ET

SAN FRANCISCO, CA / ACCESSWIRE / September 12, 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, 2023Lead Plaintiff Motion Deadline:October 23, 2023Case information:lieffcabraser.com/securities/heContact us: Email or textinvestorinfo@lchb.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.

Contact:

Sharon LeeLieff Cabraser Heimann & Bernstein, LLP415 956-1000slee@lchb.com

SOURCE: Lieff Cabraser Heimann & Bernstein, LLP

View source version on accesswire.com: https://www.accesswire.com/783013/hawaiian-electric-investors-october-23-2023-filing-deadline-in-securities-class-action-contact-lieff-cabraser

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.