NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of SCANA Corporation (NYSE: SCG) resulting from allegations that SCANA may have issued materially misleading business information to the investing public.
On July 31, 2017, SCANA’s subsidiary South Carolina Electric & Gas Co. (“SCE&G”) and Santee Cooper, South Carolina’s state-owned electric and water utility, announced that they would abandon construction of two nuclear power plants in South Carolina, citing rising construction costs. On August 11, 2017, The Post and Courier of Charleston reported that SCANA Chairman and CEO Kevin Marsh advised state lawmakers that SCE&G might not resume construction on the nuclear power plants even if a new partner for the project was found. On this news, shares of SCANA fell $1.32 or 2.13% to close at $60.69 on August 11, 2017. That same day, The Post and Courier reported during aftermarket hours that a class action had been filed against SCE&G alleging that SCE&G had overcharged its customers for electricity for nearly 10 years to pay in advance for the construction of the subsequently abandoned nuclear plants. On August 29, 2017, The Post and Courier reported that a second class action had been filed accusing SCE&G and SCANA of fraud and negligence in the years preceding the decision to abandon construction of the nuclear power plants.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by SCANA investors. If you purchased shares of SCANA, please visit the firm’s website at http://www.rosenlegal.com/cases-1204.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar outcome.