In Re: Hawaiian Electric Industries Inc and Hawaiian Electric Company Inc. Derivative Litigation
Opinion
Trial Court Opinion
UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA 6 Case No. 23-cv-06627-JSC
IN RE HAWAIIAN ELECTRIC ORDER DISMISSING ACTION
INDUSTRIES, INC. and HAWAIIAN WITHOUT PREJUDICE
ELECTRIC COMPANY, INC.
DERIVATIVE LITIGATION Re: Dkt. No. 62
13 Pending before the Court is Plaintiffs’ Notice of Voluntary Dismissal pursuant to Federal Rules of Civil Procedure 41 and 23.1. (Dkt. No. 62.) Nominal defendant Hawaiian Electric Industries, Inc. (HEI) opposes dismissal. After carefully considering the parties’ submissions, and having had the benefit of oral argument on January 30, 2025, the Court in its discretion DISMISSES this action without prejudice. DISCUSSION On December 26, 2023, Patrick Kallaus filed a shareholder derivative complaint. (Dkt. No. 1.) Michael Cole and Alexander Tai subsequently filed derivative actions “asserting substantially similar claims to those alleged” in Kallaus’s complaint. (Dkt. No. 17 at 4-5.) The three derivative actions…