Hawaiian Electric Industries shares continued their record slump, shedding nearly 31% in premarket trading on Thursday, as the electric utility faces increased scrutiny over whether its equipment might have played any role in the deadly Maui wildfires.
The company's stock has lost more than half its value since the Aug. 8 wildfires that killed at least 110 people and destroyed the coastal Maui town of Lahaina.
This week, Hawaiian Electric was slapped with class-action lawsuits alleging culpability for the fires, as well as a downgrade from S&P Global Ratings to junk status.
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