{"id":2015050,"date":"2023-08-29T03:15:01","date_gmt":"2023-08-29T07:15:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hawaiian-electric-denies-maui-lawsuit-claims-about-cause-of-wildfire-shares-surge\/"},"modified":"2023-08-29T03:17:40","modified_gmt":"2023-08-29T07:17:40","slug":"hawaiian-electric-denies-maui-lawsuit-claims-about-cause-of-wildfire-shares-surge","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hawaiian-electric-denies-maui-lawsuit-claims-about-cause-of-wildfire-shares-surge\/","title":{"rendered":"Hawaiian Electric refutes Maui lawsuit allegations on wildfire cause, stocks soar."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fhawaiian-electric-denies-maui-lawsuit-claims-about-cause-of-wildfire-shares-surge%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2015050&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Hawaiian Electric&#8217;s\u2062 Shares \u2063Soar as \u200cCompany Denies Responsibility for Maui Wildfires<\/h2>\n<p>Hawaiian Electric&#8217;s shares \u2063skyrocketed by nearly 40 percent on Monday following the company&#8217;s statement that it was not to blame for\u200b the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/western-governors-ask-biden-for-more-resources-amid-intense-fast-growing-wildfires\/\" title=\"Western governors ask Biden for more resources amid intense, fast growing wildfires\">devastating wildfires<\/a> in\u2063 Maui. The electric utility asserted \u2064that its power lines had been shut\u2063 down for hours prior \u200cto the \u2062deadliest \u200cblaze that ravaged the \u200disland.<\/p>\n<p>Last week, Maui County filed a lawsuit against Hawaiian Electric, accusing the utility of negligently failing to cut \u200coff power, thus causing the fires that destroyed the coastal town of Lahaina\u2062 and tragically claimed the lives of over 114 people.<\/p>\n<p>While Hawaiian Electric admitted \u2064that its power lines were \u2062responsible for the \u200binitial fire in Lahaina, it\u200c emphasized that a separate fire, which \u2064started \u2064later in the afternoon, engulfed the town and could not be \u2064contained by the county&#8217;s fire department.<\/p>\n<blockquote>\n<h3>Related Stories<\/h3>\n<ul>\n<li>\n      <a href=\"http:\/\/www.theepochtimes.com\/us\/many-say-theyre-safe-after-maui-releases-388-names-of-missing-people-from-wildfires-5481089\">Many Say They&#8217;re Safe After Maui Releases 388 \u200dNames of Missing People From Wildfires<\/a><br \/>\n      <br \/>\n      <span class=\"text-comp-caption\">8\/26\/2023<\/span>\n    <\/li>\n<li>\n      <a href=\"http:\/\/www.theepochtimes.com\/us\/maui-county-sues-public-utility-and-its-affiliates-over-deadly-wildfires-5480834\">Maui County Sues Public Utility and Its Affiliates Over Deadly\u2063 Wildfires<\/a><br \/>\n      <br \/>\n      <span class=\"text-comp-caption\">8\/25\/2023<\/span>\n    <\/li>\n<\/ul>\n<\/blockquote>\n<p>&#8220;We were\u2062 surprised and disappointed that the County of Maui rushed to court even before completing its own investigation,&#8221; stated CEO Shelee Kimura.<\/p>\n<p>Since the\u2062 wildfires on August 8, Hawaiian Electric&#8217;s shares have <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-handling-of-economy-contributed-to-banking-crisis-senate-republicans-say\/\" title=\"Biden\u2019s Handling of Economy Contributed to Banking Crisis, Senate Republicans Say\">experienced significant volatility<\/a>. On Monday, they were trading at $13.51 after multiple trading halts. Despite the rally, the shares remain \u200bmore than \u206360 percent lower since the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/watch-f-you-bidens-belated-maui-visit-goes-off-the-rails\/\" title=\"VIDEO: Biden's Maui Visit Turns Chaotic with Profanity-Laden Outburst\">wildfires began<\/a>.<\/p>\n<p>The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hawaiian-electric-denies-maui-lawsuit-claims-about-cause-of-wildfire-shares-surge\/\" title=\"Hawaiian Electric refutes Maui lawsuit allegations on wildfire cause, stocks soar.\">utility firmly asserted<\/a> that its \u2062power\u200b lines in \u2064West Maui had been deactivated for over six hours before the afternoon wildfires erupted \u2064in the\u200c area. It\u2063 labeled \u200bthe lawsuit \u2063filed by Maui County as \u2063&#8221;factually \u200band legally irresponsible.&#8221;<\/p>\n<p>&#8220;If HECO [Hawaiian Electric Co] \u200d possesses \u2063information regarding a \u2062second \u200bignition source, it should present that evidence promptly.\u200b Ultimately, HECO bears \u200cthe responsibility to \u2063de-energize, maintain its\u200c equipment and \u2064systems properly, and\u200b ensure \u200bthat downed\u2064 power \u200clines are not re-energized,&#8221; stated John\u200d Fiske, an attorney representing\u200d Maui County in the lawsuit.<\/p>\n<p>As investors\u200d fear \u2064the potential for bankruptcy,\u2063 Hawaiian Electric is striving \u2064to defend itself, with the outcome hinging on its legal arguments.\u200b Raymond James analyst\u2063 Pavel Molchanov commented,\u200c &#8220;Ultimately, this will\u200d need to be resolved in court rather than\u200c solely through press releases.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hawaiian Electric&#8217;s stocks surged by almost 40% on Monday as the company denied responsibility for the recent Maui wildfires. They stated that their power lines were inactive for hours before the destructive blaze occurred. Maui County had filed a lawsuit against Hawaiian Electric, alleging negligence.<\/p>\n","protected":false},"author":66,"featured_media":2015051,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-2015050","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2015050","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2015050"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2015050\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2015051"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2015050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2015050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2015050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}