Judge approves $47.75M Maui fire securities settlement, trims legal fees
A federal judge has given final approval to a $47.75 million settlement in a securities lawsuit against Hawaiian Electric Industries. The suit alleged the company misled investors about its wildfire preparedness. The judge also reduced the attorney fees the investors' lawyers had requested. Of more than 67,000 claims filed, just over 24,000 were approved. Eligible claimants will be paid based on a distribution plan tied to their losses.
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