Hawaiian Electric Industries shares climbed early on Monday after the company pushed back against suggestions its power lines caused a deadly wildfire on the island of Maui in Hawaii.
The company’s shares were down 77% this year as of Friday’s close as it grapples with the fallout from the fires, which caused it to suspend its dividend in an effort to boost its cash position. “We were surprised and disappointed that the County of Maui rushed to court even before completing its own investigation,” Hawaiian Electric‘s CEO Shelee Kimura said. “We believe the complaint is factually and legally irresponsible.”
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