HAWAIIAN ELECTRIC INDUSTRIES SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Hawaiian Electric Industries, Inc. (HE) Over the Proposed Sale of the Company to NextEra Energy, Inc. (NEE)
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Hawaiian Electric Industries, Inc. (“Hawaiian Electric” or the “Company”) (NYSE: HE) for potential breaches of fiduciary duties in connection with the sale of the Company to NextEra Energy, Inc. (“NextEra”) (NYSE: NEE) for approximately $2.6 billion in a cash and stock transaction. The Company’s stockholders will receive 0.2413 NextEra shares, and a one-time cash dividend payment of $0.50 for each share of Hawaiian Electric common stock they own.
The investigation focuses on whether Hawaiian Electric’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Hawaiian Electric’s shareholders.
If you own common stock in Hawaiian Electric and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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