Hawaiian Electric derivative lawsuit settled for $100M from insurers; preliminary court approval granted

HAWAIIAN ELECTRIC INDUSTRIES INC

Derivative lawsuit settlement provides $100M cash payment from insurers; no admission of liability.
$47.75M of the settlement funds will be used to fund the pending securities class action settlement.
Final approval hearing for derivative settlement set for May 28, 2026; securities class action hearing on Aug 13, 2026.
Settlement resolves three consolidated derivative actions in Hawaii federal, state, and California federal courts.
Plaintiffs' counsel will seek attorneys' fees of 25% of settlement ($25M) plus expenses up to $475,000.

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