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Hawaiian Electrical (NYSE:HE) up 1.7% The developments got here in after-hours buying and selling after a Hawaii decide authorised a $4 billion settlement with the utility firm and different defendants to resolve lawsuits from a whole bunch of victims of final yr’s Maui wildfires.
Maui Circuit Courtroom Decide Peter Cahill dominated the settlement might transfer ahead, primarily based on viewers of the listening to’s livestream and social media posts.
Hawaiian Electrical Co. (HE) mentioned earlier this month it will pay about $2 billion in settlements.
Shares of Hawaiian Electrical (HE) plunged 14% on Monday after the corporate disclosed “going concern” dangers in its 10-quarter report on Friday. The utility mentioned it should add “going concern” language to its paperwork earlier than proposing a plan to pay the settlement obligations.
