LOS ANGELES, Oct. 20, 2017 (GLOBE NEWSWIRE) — Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against SCANA Corporation (“SCANA” or the “Company”) (NYSE:SCG) for possible violations of federal securities laws between January 19, 2016 and September 22, 2017, inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm prior to the November 27, 2017 motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or you can e-mail him at [email protected]
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, throughout the Class Period, SCANA made false and/or misleading statements, and/or failed to disclose, adverse information regarding the construction of its project to build nuclear reactors at the V.C. Summer Nuclear Station in South Carolina, assuring investors that costs spending was prudent and substantial progress was being made, even when cost overruns and other delays began to materialize.
On July 31, 2017, the Company announced that it would abandon construction of the nuclear project because of cost overruns and delays. On August 4, 2017, the South Carolina Attorney General announced the opening of an investigation into the Company’s abandonment of the nuclear project. On the same day, South Carolina state senators called for a special legislative session to investigate SCANA. On September 22, 2017, the South Carolina Attorney General publicly requested that the South Carolina State Law Enforcement Division launch a criminal investigation into the project. When this information reached the public, SCANA’s stock price fell materially, which caused investors harm according to the Complaint.
Lundin Law PC was founded by Brian Lundin, Esq., a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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Lundin Law PC
Brian Lundin, Esq.