Judge OKs distribution for $192M SC nuclear reactor project settlement

South Carolina News

FILE – In this Sept. 21, 2016, file photo, V.C. Summer Nuclear Station’s unit two’s turbine is under construction near Jenkinsville, S.C., during a media tour of the facility. Investors who lost fortunes in the failure of the 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. (AP Photo/Chuck Burton, File)

COLUMBIA, S.C. (AP) — 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.

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.

Attorneys for the investors said the settlement was the largest securities class action recovery obtained in South Carolina when a judge approved it last year.

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

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