SAN DIEGO, Sept. 30, 2017 /PRNewswire/ -- Johnson Fistel, LLP is investigating potential violations of the federal and state securities laws by SCANA Corporation (NYSE: SCG) ("SCANA") and certain of its officers. A class action lawsuit against the Company has been filed on behalf of shareholders who purchased SCANA between January 19, 2016 and September 22, 2017, (the "Class Period").
As detailed in the complaint, on July 31, 2017, SCANA announced that it would abandon construction of the Nuclear Project because of cost overruns and delays. Next, on August 4, 2017, the South Carolina Attorney General announced the opening of an investigation into SCANA's abandonment of the Nuclear Project. After that on August 10, 2017, The Post and Courier published an article reporting on SCANA's Chief Executive Officer, Kevin Marsh's comments stating, "he wasn't sure he would want to take the project back up after it fell years behind schedule and its costs soared billions of dollars over budget." Then on September 22, 2017, the South Carolina Attorney General requested that the State Law Enforcement Division launch a criminal investigation into the Nuclear Project. Following this news, SCANA's stock price dropped materially.
If you wish to serve as a lead plaintiff, you must move the Court no later than November 27, 2017.
If you have held SCANA shares continuously before January 19, 2016, you may have standing to hold SCANA harmless from the damage the officers and directors caused by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are a SCANA shareholder and are interested in learning more about your legal rights and remedies, please contact Jim Baker (firstname.lastname@example.org) at 619-814-4471. If you email, please include your phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
View original content:http://www.prnewswire.com/news-releases/long-term-scana-investors-johnson-fistel-initiates-investigation-of-scana-corporation-encourages-investors-to-contact-the-firm-300528758.html
SOURCE Johnson Fistel, LLP