Robbins Geller Rudman & Dowd LLP and Bragar Eagel & Squire, P.C. Announce Proposed Settlement in the SCANA Corporation Merger Litigation

SAN DIEGO--(BUSINESS WIRE)--The following statement is being issued by Robbins Geller Rudman & Dowd LLP and Bragar Eagel & Squire, P.C. regarding the SCANA Corporation Merger Litigation:

STATE OF SOUTH CAROLINA COUNTY OF RICHLAND	IN THE COURT OF COMMON PLEAS FOR THE FIFTH JUDICIAL CIRCUIT
KBC ASSET MANAGEMENT NV, on Behalf of Itself and All Others Similarly Situated,	Civil Action No.: 2019-CP-4002522
Plaintiff,	CLASS ACTION
v.
KEVIN MARSH, GREGORY E. ALIFF, JAMES A. BENNETT, JOHN F.A.V. CECIL, SHARON A. DECKER, D. MAYBANK HAGOOD, LYNNE M. MILLER, JAMES W. ROQUEMORE, MACEO K. SLOAN, ALFREDO TRUJILLO, JIMMY ADDISON, and STEPHEN BYRNE,
Defendants.
STATE OF SOUTH CAROLINA COUNTY OF RICHLAND	IN THE COURT OF COMMON PLEAS FOR THE FIFTH JUDICIAL CIRCUIT
TERESA PARLER, derivatively on behalf of SCANA CORPORATION,	Civil Action No.: 2017-CP-40-06621
Plaintiff,
v.
KEVIN MARSH, GREGORY ALIFF, JAMES BENNETT, JOHN CECIL, SHARON DECKER, MAYBANK HAGOOD, LYNNE MILLER, JAMES ROQUEMORE, MACEO SLOAN, ALFREDO TRUJILLO, JIMMY ADDISON, and STEPHEN BYRNE,
Defendants,
-and-
SCANA CORPORATION,
Nominal Defendant.

SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF ACTIONS

TO: ALL PERSONS AND ENTITIES WHO OWNED COMMON STOCK OF SCANA CORPORATION (“SCANA”) CONTINUOUSLY FROM JANUARY 3, 2018, THROUGH AND INCLUDING JULY 31, 2018 (THE “CLASS”)

PLEASE READ THIS NOTICE CAREFULLY, YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the South Carolina Rules of Civil Procedure and an Order of the South Carolina Court of Common Pleas, Fifth Circuit, that Plaintiffs KBC Asset Management NV (“KBC”), Teresa Parler (“Parler”), Metzler Asset Management GmbH (“Metzler”), and City of Warren Police and Fire Retirement System (“City of Warren,” and together with KBC, Parler, and Metzler, “Plaintiffs”), in connection with claims that relate to SCANA’s abandonment of a nuclear power plant construction project (the “Nuclear Project”) and subsequent merger (the “Merger”) with Dominion Energy, Inc. (“Dominion”) against Kevin Marsh, Gregory E. Aliff, James A. Bennett, John F.A.V. Cecil, Sharon A. Decker, D. Maybank Hagood, Lynne M. Miller, James W. Roquemore, Maceo K. Sloan, Alfredo Trujillo, Jimmy Addison, and/or Stephen Byrne (collectively, “Individual Defendants”) and also SCANA (collectively with the Individual Defendants, the “Defendants,” and with Plaintiffs, the “Parties”), have reached a proposed settlement of the claims in the above-captioned actions (the “Actions”) in the amount of $63,000,000 (the “Settlement”). Of the $63,000,000, $33,000,000 will be paid in cash and $30,000,000 will be paid in cash or shares of freely-tradable Dominion common stock at the option of SCANA, plus earned interest, for the benefit of eligible Class Members, less any attorneys’ fees and expenses awarded by the Court, Administrative Costs, and Tax Expenses.

A hearing will be held before the Honorable J. Mark Hayes, II either in person or via teleconference or video conference, on June 2, 2022 at 10:30 a.m., in Courtroom West B of the Spartanburg County Courthouse, 180 Magnolia Street, Spartanburg, S.C. 29306 (the “Settlement Hearing”), where the Court will consider whether: (i) the Settlement is fair, reasonable, and adequate, and should be finally approved; (ii) the Plan of Allocation is fair and reasonable, and should be approved; and (iii) Plaintiffs’ Counsel’s Fee and Expense Application and Plaintiffs’ service awards are reasonable and should be approved. The Court may change the date of the Settlement Hearing, or hold it telephonically or via video conference, without providing another notice. You do NOT need to attend the Settlement Hearing to receive a distribution from the Net Settlement Fund.

IF YOU ARE A MEMBER OF THE CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT. A full Notice of Pendency and Proposed Settlement of Actions (“Notice”) and Proof of Claim and Release form (“Claim Form”) can be obtained by visiting the Settlement website, www.SCANAMergerLitigation.com, or by contacting the Claims Administrator at:

SCANA Merger Litigation Claims Administrator
c/o Gilardi & Co. LLC
P.O. Box 43349
Providence, RI 02940-3349
1-866-748-5166

Inquiries, other than requests for the Notice/Claim Form or for information about the status of a claim, may also be made to Plaintiffs’ Class Counsel:

ROBBINS GELLER RUDMAN & DOWD LLP
Attn: David T. Wissbroecker
655 West Broadway, Suite 1900
San Diego, CA 92101
Telephone: [phone]

BRAGAR EAGEL & SQUIRE, P.C.
Attn: Lawrence P. Eagel
810 Seventh Avenue, Suite 620
New York, NY 10019
Telephone: [phone]

If you are a Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked or submitted online no later than May 26, 2022. If you are a Class Member and do not timely submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the Court relating to the Settlement.

If you are a Class Member and wish to exclude yourself from the Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice such that it is received no later than May 12, 2022. If you properly exclude yourself from the Class, you will not be bound by any judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund.

Any objections to the proposed Settlement, Plaintiffs’ Counsel’s Fee and Expense Application, and/or the proposed Plan of Allocation must be mailed in accordance with the instructions in the Notice, such that they are received no later than May 12, 2022.

PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR DEFENDANTS’ COUNSEL REGARDING THIS NOTICE.

DATED: February 4, 2022

BY ORDER OF THE COURT OF COMMON PLEAS FOR THE FIFTH JUDICIAL CIRCUIT, RICHLAND COUNTY, SOUTH CAROLINA