Maui residents have blamed Hawaiian Electric Industries for the wildfires that killed at least 96 people.
“There’s an uncertainty that the cause of the fires in Maui may be attributable to Hawaiian Electric. That’s not yet proven, so there’s the fear in the market. It’s a ‘shoot first and ask questions later’ type of situation,” Thomas Hayes, chair at Great Hill Capital, said of investors. Lahaina residents in one of the lawsuits claimed Hawaiian Electric is responsible for the fires after failing to shut off power lines despite warnings from the National Weather Service that high winds could blow those lines down and spark fast-spreading wildfires.
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