secwatch.observer — SEC 8-K summary
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Issuer:     HAWAIIAN ELECTRIC INDUSTRIES INC (HE)
CIK:        0000354707
Form:       8-K
Filed at:   2026-03-16T23:59:59+00:00
Accession:  0000354707-26-000012
Event type: litigation
Sentiment:  neutral
Materiality: 0.70
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/354707/000035470726000012/0000354707-26-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/46207/000035470726000012/he-20260316.htm
  HTML page:      https://secwatch.observer/filing/0000354707-26-000012

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer