Bhangal
Bhangal v. Hawaiian Electric Industries, Inc.
Opinion
Trial Court Opinion
UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA 6 BHAPINDERPAL S. BHANGAL, Case No. 23-cv-04332-JSC
Plaintiff,
ORDER RE: MOTION TO DISMISS
v. 9 Re: Dkt. Nos. 81, 83 HAWAIIAN ELECTRIC INDUSTRIES, INC., et al., 11 Defendants.
12 On August 8, 2023, a deadly wildfire swept through the town of Lahaina in Maui, Hawaii. Plaintiffs filed a federal securities class action on behalf of individuals who purchased Hawaiian Electric Industries, Inc.’s (“HEI”) securities, alleging HEI and its top officials misled investors to believe the utility was taking appropriate action to mitigate wildfire risk. (Dkt. No. 70.) Now pending before the Court is Defendants’ motion to dismiss and Defendants’ request for incorporation by reference and judicial notice. (Dkt. Nos. 81, 83.) Having carefully considered the briefing, and with the benefit of oral argument on September 26, 2024, the Court GRANTS Defendants’ request for incorporation by reference and judicial notice and GRANTS Defendants’ motion to dismiss with leave to amend for the reasons…