09-13-2017 06:35 PM CET - Business, Economy, Finances, Banking & Insurance
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SCANA Corporation (NYSE:SCG) Investor Investigation over possible Violations of Securities Laws

Press release from: Shareholders Foundation
An investigation for investors in SCANA Corporation (NYSE:SCG) shares over potential securities laws violations by SCANA.
An investigation for investors in SCANA Corporation (NYSE:SCG) shares over potential securities laws violations by SCANA.
An investigation on behalf of investors of SCANA Corporation (NYSE:SCG) shares over potential securities laws violations by SCANA and certain of its directors and officers in connection with certain financial statements was announced.

Investors who purchased shares of SCANA Corporation (NYSE:SCG), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of SCANA Corporation (NYSE:SCG) concerning whether a series of statements by SCANA Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Cayce, SC based SCANA Corporation is a holding company, that, through its subsidiaries, is engaged in the generation, transmission, distribution and sale of electricity in South Carolina. SCANA Corporation reported that its annual Total Revenue declined from over $4.38 billion in 2015 to over $4.22 billion in 2016 and that its Net Income declined from $746 million in 2015 to $595 million in 2016.

On July 31, 2017, SCANA Corporation'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, it was 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. That same day, after the close of trading, it was reported that a class action lawsuit 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,it was reported that a second class action lawsuit had been filed on behalf of SCE&G customers, accusing SCE&G and SCANA Corporation of fraud and negligence in the years preceding the decision to abandon construction of the company's nuclear power plants.

Shares of SCANA Corporation (NYSE:SCG) declined from $75.63 per share in July 2016 to as low as $58.55 per share on September 8, 2017.

On September 12, 2017, NYSE:SCG shares closed at $59.06 per share.

Those who purchased shares of SCANA Corporation (NYSE:SCG) have certain options and should contact the Shareholders Foundation.

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

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