SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of SCANA Corporation (SCG)

NEW YORK, Sept. 7, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of SCANA Corporation ("SCANA" or the "Company") (NYSE: SCG). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/scg.

The investigation concerns whether SCANA and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

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. 

Then on August 11, 2017, The Post and Courier of Charleston reported that Kevin Marsh, Scana's Chairman and Chief Executive Officer, had 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.  Following this news, Scana's share price fell $1.32, or 2.13%, to close at $60.69 on August 11, 2017. 

That same day, after the close of trading, The Post and Courier reported that a class action had been filed against SCE&G on behalf of South Carolina ratepayers, alleging that SCE&G had overcharged its customers for electricity for nearly 10 years by raising their rates to pay in advance for the construction of the company's subsequently abandoned nuclear plants. 

Then on August 29, 2017, The Post and Courier reported that a second class action had been filed on behalf of SCE&G customers, accusing SCE&G and Scana of fraud and negligence in the years preceding the decision to abandon construction of the company's nuclear power plants. 

Following this news, Scana's share price fell $0.84, or 1.39%, over the following two trading sessions, to close at $59.75 per share on August 30, 2017.

If you are aware of any facts relating to this investigation, or purchased SCANA shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/scg.  You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484. 

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration.   Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]

SOURCE Bronstein, Gewirtz & Grossman, LLC

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