Step 1

Draft

Step 2

Unite with Fellow Investors

Step 3

Choose the Best Attorney

Step 4

Provide Documents

Step 5

Follow Case Progress

Step 6

Get Payout

N/A.PRVT

id: 1584

SCANA (SCG) Investor Settlement

Eligible claimants can submit their claims for compensation.

$34,000,000

Cash Settlement

D. South Carolina

Court

3:19-cv-03304

Case number

02/26/2016

Class period Start

12/20/2017

Class period End

04/16/2026

Claim deadline

SCANA has reached a settlement with $SCG investors to resolve claims that it misled investors about the feasibility and progress of its nuclear expansion project in South Carolina.

Outline:
Between 2016 and 2017, SCANA claimed its V.C. Summer nuclear project was on schedule and set to qualify for $1.4B in federal tax credits. However, the company was aware of construction delays, cost overruns, and timeline risks. In July 2017, SCANA abandoned the project, triggering investigations, a 27% stock drop, and a lawsuit from investors.

Timeline:
February 26, 2016 – SCANA publicly reaffirmed the timeline and cost targets for its nuclear expansion project.
March 22, 2017 – Reports surfaced predicting cost overruns and Westinghouse’s imminent bankruptcy. $SCG dropped 2.3%.
July 27, 2017 – SCANA disclosed massive cost overruns and announced the project would miss tax credit deadlines.
July 28, 2017 — $SCG dropped 6.63%.
August 1, 2017 – News of the project’s cancellation, public backlash, subpoenas, and investigations drove the stock down more than 17%.
November 22, 2019 – Investors filed a lawsuit against SCANA.
May 2025 – SCANA agreed to settle the case with investors.

Background:

Between 2016 and 2017, SCANA publicly stated that its V.C. Summer nuclear expansion was progressing on time and within budget, despite internal assessments showing the opposite. Documents like the Bechtel Report warned that the project was years behind schedule and billions over budget. Yet SCANA continued to make optimistic statements to investors.

At the time, Deloitte &amp; Touche LLP was SCANA’s auditor and signed off on its 2014–2017 financial statements, saying they followed accounting rules. However, Deloitte failed to properly account for the risks and backed financial statements that did not reflect the true condition of the project.

After Westinghouse—the main contractor for the V.C. Summer nuclear project—filed for bankruptcy in March 2017, SCANA continued to assure investors that the project would still be completed.

But in July 2017, the company abruptly canceled the project. Over the next two months, $SCG dropped more than 27% as investigations, subpoenas, and public backlash unfolded.

In November 2019, investors sued SCANA for misleading them about the timeline, cost, and risks of the V.C. Summer nuclear project.

What Can Investors Expect Now?

SCANA has reached a settlement with $SCG investors to resolve claims that it misled the public about the feasibility and progress of its nuclear expansion project in South Carolina.

If you were damaged due to this situation, you can file for a payout and get your share of the settlement. You can check if you are eligible and other details in the FAQ section below.

Case Type

US Securities Class Action

Case Status

Accepting Claims

Alleged Offence

Malpractice,

Negligence,

Omissions

Suspected Party

Directors,

Management

Security Type

Plans (Investment, Pension, Insuranse)

Trade Direction

Long

Payout per Share

0.24

Filing date

11/22/2019

Plaintiffs

INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL 98 PENSION FUND

Attorneys

Tinkler Law Firm LLC; Cohen Milstein Sellers & Toll PLLC; Gordon Ball PLLC

Judge

Jacquelyn D Austin

Administrator

EPIQ

Court hearing date

02/26/2026

Exclusion deadline

02/05/2026

Objection deadline

02/05/2026

Hearing deadline

02/26/2026

Attorney fee

$17,340,000

Trades matching type

FIFO

Frequently Asked Questions

Trusted by industry leaders

Endorsed by top professionals who trust our innovative solutions to drive impactful results.