SCANA, SCE&G settle lawsuit in nuclear fraud case

COLUMBIA, SC (WOLO)– SCANA Energy and its subsidiary SCE&G have agreed to settle the lawsuit from the Securities and Exchange Commission, charging them with defrauding investors by making false and misleading statements about the nuclear plant expansion, that was eventually abandoned. According to the U.S. Attorney’s Office, the proposed settlement is still subject to court approval. It would require SCANA to pay a $25 million penalty. Additionally, SCANA and SCE&G would have to pay $112.5 million in disgorgement plus prejudgment interest.