Hawaiian Electric shares plummet 40% after Maui wildfires lawsuit

Hawaiian Electric's credit rating and warned of potential additional downgrades in the coming months, citing the class-action litigation.

"As has always been our policy, we don't comment on pending litigation. Our immediate focus is on supporting emergency response efforts on Maui and restoring power for our customers and communities as quickly as possible," Kelly said. "At this early stage, the cause of the fire has not been determined and we will work with the state and county as they conduct their review."

"We all believe it's important to understand what happened," Kimura said. "And we all believe it's important to make sure this doesn't happen again."

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