Hawaiian Electric Industries has agreed to pay its shareholders $47.75 million in a settlement filed Monday.
Several investors sued the utility parent company after the Maui fires in 2023, alleging that HEI's top executives made misleading claims about the company's wildfire mitigation work.
The original complaint challenged 25 specific statements about the company's efforts to reduce wildfire risk, all of which were made before a catastrophic blaze killed more than 100 people in Lahaina in August 2023.
The shareholders allege that those statements were false or misleading. Hawaiian Electric denied wrongdoing.
This settlement is preliminary and still requires a judge's approval. It is separate from the $4 billion agreement to compensate Maui wildfire victims.
