A civil fraud class action lawsuit brought by shareholders against utility Scana and its former top executives over the failure of its $9bn Summer nuclear power station project in South Carolina was settled for $192.5m.
The lawsuit was filed in 2017, several months after Scana and its junior partner in the ill-fated nuclear venture, Santee Cooper, a state-owned utility, announced they were abandoning the project two new Westinghouse AP1000 reactors at the Summer site.
The utilities had also been charging customers in advance for the unfinished nuclear reactors.
The lawsuit was filed in 2017, several months after Scana and its junior partner in the ill-fated nuclear venture, Santee Cooper, a state-owned utility, announced they were abandoning the project two new Westinghouse AP1000 reactors at the Summer site.
The utilities had also been charging customers in advance for the unfinished nuclear reactors.
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