NEW CASES

FULLY
EQUIPPED

Shareholders Class Action Filed Against SCANA Corporation

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired SCANA Corporation’s (“SCANA”) (NYSE: SCG) common stock between January 19, 2016 and September 22, 2017, inclusive (the “Class Period”). 

SCANA investors may receive additional information about the case by clicking the link "Join this Class Action" above. 

According to the complaint, SCANA is an energy-based holding company whose principal subsidiary, South Carolina Electric & Gas Company, is a regulated public utility engaged in the generation, transmission, distribution and sale of electricity primarily in South Carolina. The complaint alleges that during the Class Period, the defendants artificially drove up the price of SCANA’s stock by issuing false and misleading statements to investors, and omitting material information, concerning the progress, cost, and completion schedule of the multi-billion dollar nuclear construction project at V.C. Summer Nuclear Station (the “Nuclear Project”) in Fairfield County, South Carolina.

The Class Period commences on January 19, 2016, when SCANA issued a press release and video “Highlighting a Year of Progress for V.C. Summer Units 2 and 3.” The press release touted the “achievement” of several “milestones” for “V.C. Summer.”  

The complaint alleges that, on February 14, 2017, SCANA issued a quarterly report to the South Carolina Office of Regulatory Staff that included “a revised completion schedule” for the two Nuclear Project reactors “of April 2020 and December 2020” – later than the previous completion dates of August 2019 and August 2020.  

Following this news, SCANA’s stock price fell approximately 6.25%, or $4.38 per share, from a closing price of $70.03 on February 13, 2017, to a closing price of $65.65 on February 17, 2017.

Then, on July 31, 2017, SCANA publicly announced that it would abandon construction of the Nuclear Project because of delays and cost overruns.  On August 4, 2017, South Carolina Attorney General, Alan Wilson, announced that he was opening an investigation and state Senate leaders called for a special legislative session to investigate SCANA’s abandonment of the Nuclear Project.  

Finally, on September 22, 2017, Mr. Wilson requested that the State Law Enforcement Division launch a criminal investigation related to the Nuclear Project.  

Following this news, SCANA’s stock price fell approximately 3.43 %, or $1.96 per share, to close at $55.22 per share on September 22, 2017.

If you are a member of the class described above, you may no later than November 27, 2017 move the Court to serve as lead plaintiff of the class, if you so choose.  

A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.

Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@ktmc.com. For more information about Kessler Topaz Meltzer & Check, LLP, please visit our website at http://www.ktmc.com. If you would like additional information about the suit, please fill out the attached form as promptly as possible and return it by fax to 610-667-7056, or by mail in the enclosed envelope.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 
1-888-299-7706 (toll free) or 1-610-667-7706 
Or by e-mail at info@ktmc.com

Please complete this form and list your purchase and sale transaction(s) for SCANA Corporation’s (“SCANA”) (NYSE: SCG) common stock between January 19, 2016 and September 22, 2017, both dates inclusive (the “Class Period”):

Information Sheet
* Denotes required field
Acquisitions
Date Aquired
Number of Shares Acquired
Acquisition Price Per Share
Sales
Date Sold
Number of Shares Sold
Selling Price Per Share
Did you purchase shares of SCANA Corporation prior to the class period?
Are you a current or former employee of SCANA Corporation?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
How did you hear about this case?
Sign Up for Monthly Update: