$192.5M settlement reached in SCANA fraud lawsuit

South Carolina News

COLUMBIA, S.C. (WCBD) – A nearly $200 million settlement has been reached in a federal civil fraud lawsuit against former SCANA power company officials.

The State Newspaper reports shareholders filed that lawsuit to recover some of their money lost due to the abandoned V.C. Summer nuclear reactor facility project north of Columbia.

The settlement includes $160 million cash and $32.5 million of Dominion Energy stock.

The Virginia-based company took over SCANA last year.

If approved, Dominion and SCANA’s former insurance companies will pay the $92 and a half million settlement.

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

DOWNLOAD THE APP!

WCBD News app graphic_1558160087567.png.jpg

Click for latest news and information

TRENDING HEADLINES