Federal judge approves $34M settlement against accounting firm in failed SC nuclear project [Yahoo! Finance]
Dominion Energy, Inc. (D)
Last dominion energy, inc. earnings: 2/11 07:30 am
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Source: Yahoo! Finance
A federal judge signed off Tuesday on a $34 million legal settlement between former owners of stock in South Carolina's now-defunct SCANA Corp. and the auditing firm tasked with monitoring the utility company's books amid the V.C. Summer nuclear expansion. The deal , which comes more than eight years after SCANA and state-owned utility company Santee Copper abandoned the project in rural Fairfield County, holds accounting giant Deloitte & Touche LLP responsible for its failure to alert shareholders to the fraud associated with the multibillion-dollar project's failure. The payout is on top of a $192 million legal settlement between shareholders and Dominion Energy, the company that bought out SCANA. A judge signed off on that deal in 2020. The total number of shareholders in line for a share of the funds is still unknown, according to Laura Posner, the court-appointed attorney from the firm Cohen Milstein who represented shareholders. She expects the number of beneficiaries to
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