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A Judge Approves Distribution of a $192 Million Nuclear Reactor Settlement

Investors who lost fortunes in the failure of a multi billion-dollar nuclear reactor construction deal in South Carolina will soon begin to see their portions of a $192 million settlement, under a recently approved distribution.

Last week, a federal judge signed off on a plan to disperse the funds among former shareholders in SCANA Corp., the former parent company of South Carolina Electric & Gas. The settlement itself was the largest securities class action recovery obtained in South Carolina when a judge approved it last year, according to attorneys for the investors.

The utility company became embroiled in controversy after announcing in summer 2017 that it was shuttering a nuclear reactor construction project at the V.C. Summer Nuclear Station in Jenkinsville, about 30 miles north of Columbia, following the bankruptcy of lead contractor Westinghouse.

Read the source article at nsjonline.com

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