Hawaiian Electric to Get $100 Million With Derivative Deal Nod

A Hawaiian Electric Industries Inc. shareholder suit against the utility company’s leadership for allegedly failing to manage safety risks before a deadly 2023 wildfire has concluded with final court approval of a $100 million settlement.

The deal on behalf of Hawaiian Electric over its liability exposure related to the Lahaina fire is fair, Judge Micah W.J. Smith said Thursday for the US District Court for the District of Hawaii. The investors said the derivative suit settlement was the largest such accord in any state with a particular legal hurdle to investors suing directors and officers—one requiring a showing that a ...