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.
