Securities fraud class action litigation has been filed on behalf of investors who purchased or otherwise acquired the publicly traded securities of SCANA Corporation (“SCANA” or the “Company”) (NYSE: SCG). If you purchased or otherwise acquired the publicly traded securities of SCANA between January 19, 2016 and September 22, 2017, inclusive (the “Class Period”), you may move the court for appointment as lead plaintiff by no later than November 27, 2017.
You may retain Lieff Cabraser Heimann & Bernstein, LLP, or other attorneys, as your counsel in the actions. Recognized by the National Law Journal as one of the nation’s top plaintiffs’ law firms, Lieff Cabraser is committed to safeguarding the rights of investors and upholding the integrity of the market. We have significant experience and a successful track record of representing institutional and individual investors in securities and financial fraud litigation.
SCANA investors may choose to have Lieff Cabraser review their claim by completing the contact form below. You can also call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358 to discuss the litigation.
Background on the SCANA Securities Class Litigation
SCANA is an energy-based holding company headquartered in Cayce, South Carolina.
The actions allege that SCANA made false and/or misleading statements concerning a joint venture in which SCANA subsidiary South Carolina Electric & Gas Company and Santee Cooper, another South Carolina utility, agreed to finance the development of two new nuclear reactors near Jenkinsville, South Carolina. After years of work on the project, Toshiba Corporation, the parent company of the lead contractor for the development, announced on December 27, 2016 that it expected the development to cost billions of dollars more than previously anticipated, ultimately leading to the contractor filing for bankruptcy on March 29, 2017 and SCANA announcing on July 31, 2017 that it would seek permission from its regulator to abandon the project.
On September 4, 2017, a report received by SCANA in early 2016 was revealed to the public for the first time and confirmed that SCANA had long known of the severe problems facing the development. On September 22, 2017, South Carolina Attorney General Alan Wilson launched a criminal investigation related to the development.
Between December 27, 2016 (when news of the lead contractor’s expected losses began to emerge) and the last day of the Class Period, September 22, 2017, SCANA’s share price dropped from a closing price of $74.43 to a closing price of $55.22, a decline of more than 25%.
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About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Seattle, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.
The National Law Journal has recognized Lieff Cabraser as one of the nation’s top plaintiffs’ law firms for 15 years. In compiling the list, the NLJ examines recent verdicts and settlements and looks for firms “representing the best qualities of the plaintiffs’ bar and that demonstrated unusual dedication and creativity.” Law360 selected Lieff Cabraser as one of the “Top 50 Law Firms Nationwide for Litigation,” highlighting our firm’s “laser focus” and noting that Lieff Cabraser routinely finds itself “facing off against some of the largest and strongest defense law firms in the world.” The publication separately named our firm one of five “2017 California Powerhouses,” the only plaintiffs’ firm on the list. Best Lawyers and U.S. News named Lieff Cabraser as a “Law Firm of the Year” from 2012 through 2016, and the firm has received a number of other recent honors, awards, and recognition, including the National Law Journal’s “Elite Trial Lawyers,” Law360’s “Most Feared Plaintiffs’ Firms,” and Benchmark Litigation’s “Top 10 Plaintiffs Firms in America.”