Hawaiian Electric shares are trading lower following a report suggesting the company is facing multiple lawsuits alleging negligence over the Maui fires and is intalks with financial restructuring firms.
Portfolio Pulse from Benzinga Newsdesk
Hawaiian Electric (HE) is reportedly facing multiple lawsuits alleging negligence over the Maui fires. The company is also said to be in talks with financial restructuring firms, which has led to a decrease in its share price.
August 16, 2023 | 7:51 pm
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Hawaiian Electric's stock price is likely to be negatively impacted in the short term due to the legal issues and potential financial restructuring.
The news of multiple lawsuits and potential financial restructuring is likely to create uncertainty among investors, leading to a decrease in demand for the company's shares and a consequent drop in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100