SCANA Merger Litigation

This website has been established to provide general information related to the proposed settlement of the Actions captioned KBC Asset Management NV v. Marsh, Case No. 2019-CP-4002522 (the “KBC Action”), Parler v. Marsh, Case No. 2017-CP-40-06621 (the “Parler Action”), and the action titled In re SCANA Corporation Public Shareholder Litigation, Lead Case No. 3:18-cv-0505-MBS (D.S.C.) (the “Federal Merger Action,” and collectively, the “Actions”). The Court which will be ruling on the Settlement is the South Carolina Court of Common Pleas for the Fifth Judicial Circuit. The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement dated November 15, 2021 (the "Stipulation"), which can be found and downloaded by clicking on the Case Documents tab above. Your rights may be affected by the Settlement if you individually purchased or otherwise acquired publicly traded common stock of SCANA Corporation ("SCANA") continuously from January 3, 2018, through and including July 31, 2018 (the "Class Period").

Plaintiffs and the Class are represented by Plaintiffs’ Class Counsel (which is Robbins Geller Rudman & Dowd LLP and Bragar Eagel & Squire, P.C.) and Class Liaison Counsel (which is Morton & Gettys, LLC and Chappell Smith & Arden, P.A.). You will not be directly charged for these lawyers. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. If you want to be represented by your own lawyer, you may hire one at your own expense.

WHAT IS THIS LAWSUIT ABOUT?

As more fully described in the Notice of Pendency and Proposed Settlement of Actions (the "Notice"), these Actions involve claims that relate to SCANA’s abandonment of a nuclear power plant construction project (the “Nuclear Project”) and subsequent merger (the “Merger”) with Dominion Energy, Inc. (“Dominion”).

The Defendants have denied and continue to deny any and all allegations of wrongdoing or fault asserted in the Actions, deny that they have committed any act or omission giving rise to any liability or violation of law, and deny that SCANA, Plaintiffs, and the Class have suffered any loss attributable to the Defendants’ actions or omissions.

The Parties began exploring a possible resolution through settlement of the Actions and, after numerous discussions, agreed to mediate before Hon. Layn R. Phillips (Ret.). On April 14, 2021, after the Parties submitted mediation briefs, responses, and exhibits addressing the various claims and defenses asserted or likely to be asserted in the KBC Action, the Parler Action, and the Federal Merger Action, the Parties, through counsel, participated in an all-day mediation (this and related sessions collectively referred to as the “Mediation”) concerning a possible resolution of the Actions. Despite negotiating in good faith, no settlement was reached, and the Parties continued to litigate the Actions. The Parties also continued discussions with Judge Phillips following the mediation to explore the possibility of a settlement.

On June 2, 2021, after the Parties submitted additional mediation briefs, the Parties participated in a second all-day mediation before Judge Phillips. On June 3, 2021, the Parties reached an agreement in principle to settle the Actions, as detailed in the Notice.

WHAT DOES THE SETTLEMENT PROVIDE?

If approved by the Court, the proposed Settlement will create a $63,000,000 settlement fund, with $33,000,000 being paid in cash and $30,000,000 being paid in cash or shares of freely-tradable Dominion common stock at the option of SCANA, plus earned interest, for the benefit of eligible Class Members, less any attorneys’ fees and expenses awarded by the Court, Administrative Costs, and Tax Expenses.

ADDITIONAL INFORMATION

Although the information in this website is intended to assist you, it does not replace the information contained in the Notice and Stipulation, both of which can be found and downloaded by clicking on the Case Documents tab above. We recommend that you read the Notice and other relevant case documents carefully.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

IMPORTANT DATES AND DEADLINES