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$192M Shareholder Settlement Reached Over Failed NC Nuclear Project

Posted on July 10, 2020 by The National Trial Lawyers

A federal judge signed off on a $192.5 million legal settlement Thursday between the former shareholders of SCANA Corp. and the company’s new owner Dominion Energy.

The deal, which is being celebrated as the largest investor-related settlement in South Carolina history, stems from the failed V.C. Summer nuclear expansion project in Fairfield County. 

That project, which lasted for nearly a decade, was undertaken by Cayce-based SCANA and Santee Cooper, South Carolina’s state-run utility. 

The payout to SCANA’s investors is the latest settlement to come out of the failed nuclear project in which $9 billion was sunk into two unfinished reactors before construction was halted.

Read the source article at postandcourier.com

Posted in Civil Plaintiff

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