Scana Hit With Investor Suit Over Nuke Plant Statements
Law360, New York (September 28, 2017, 2:40 PM EDT) -- Scana Corp. shareholders sued the company Wednesday over its public depiction of a recently junked $14 billion nuclear reactor project, saying they lost money as executives sat on reports of prodigious budget and execution issues.
Scana, the Cayce, South Carolina-based owner of utility South Carolina Electric & Gas Co., halted construction of the Virgil C. Summer dual-reactor project on July 31 after cost projections increased by as much as $9 billion and a completion date was pushed back by four years. The project, in Jenkinsville, northwest of Columbia in the center of the state, was to have been part of a new...
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