Proposed Settlement Announced for SCANA Common Stock Purchasers: Key Details and Next Steps
In a significant development for investors, Cohen Milstein Sellers & Toll PLLC has recently announced a proposed settlement to resolve claims concerning purchasers of SCANA Corporation common stock. This comes after a class action lawsuit was filed in the United States District Court for the District of South Carolina, reflecting the interests of various stakeholders, including the International Brotherhood of Electrical Workers Local 98 Pension Fund.
The proposed settlement is related to the claims against SCANA and covers the period between February 26, 2016, and December 20, 2017. During this timeframe, investors who bought SCANA common stock are eligible for compensation, which totals approximately $34 million. The settlement addresses allegations concerning the misrepresentation of facts impacting the stock's value during the aforementioned period.
A preliminary hearing is scheduled for February 26, 2026, at 10:00 a.m. in the Greenville Division of the U.S. District Court, specifically in Courtroom 6200. The Honorable Jacquelyn D. Austin will oversee this hearing, during which she will evaluate whether to approve the settlement as fair, reasonable, and adequate. Such a decision will also impact any associated judgments and allocations related to this case.
1. Eligibility for Payment: Any individuals who purchased SCANA common stock within the specified dates are encouraged to determine their eligibility for settlement compensation. To qualify, investors may need to provide proof of their claims, particularly if they had previous claims against SCANA from related litigation.
2. Proof of Claim: Interested parties must submit a Proof of Claim and Release form, that should be postmarked no later than April 16, 2026. This form will help establish the claimant's right to recover damages as part of the settlement.
3. Exclusion Requests: If an investor prefers to opt-out of the Settlement Class, they must submit a formal request by February 5, 2026. Failure to do so will bind them to the settlement terms and conditions.
4. Objections: Any objections to the settlement must be mailed to designated recipients, including the Clerk's Office of the U.S. District Court and representatives from the involved law firms, no later than February 5, 2026. It’s important to include pertinent details in these objections to ensure they are considered.
For those affected, further information can be obtained via several platforms:
It is crucial that all class members take necessary actions before the corresponding deadlines. With the proposed settlement nearing approval, SCANA investors have a real opportunity to seek compensation for their losses endured during the specified period. Keeping track of deadlines and promptly responding to this settlement notice will be vital for affected parties as they navigate this complex legal process.
Overview of the Settlement
The proposed settlement is related to the claims against SCANA and covers the period between February 26, 2016, and December 20, 2017. During this timeframe, investors who bought SCANA common stock are eligible for compensation, which totals approximately $34 million. The settlement addresses allegations concerning the misrepresentation of facts impacting the stock's value during the aforementioned period.
A preliminary hearing is scheduled for February 26, 2026, at 10:00 a.m. in the Greenville Division of the U.S. District Court, specifically in Courtroom 6200. The Honorable Jacquelyn D. Austin will oversee this hearing, during which she will evaluate whether to approve the settlement as fair, reasonable, and adequate. Such a decision will also impact any associated judgments and allocations related to this case.
Important Considerations
1. Eligibility for Payment: Any individuals who purchased SCANA common stock within the specified dates are encouraged to determine their eligibility for settlement compensation. To qualify, investors may need to provide proof of their claims, particularly if they had previous claims against SCANA from related litigation.
2. Proof of Claim: Interested parties must submit a Proof of Claim and Release form, that should be postmarked no later than April 16, 2026. This form will help establish the claimant's right to recover damages as part of the settlement.
3. Exclusion Requests: If an investor prefers to opt-out of the Settlement Class, they must submit a formal request by February 5, 2026. Failure to do so will bind them to the settlement terms and conditions.
4. Objections: Any objections to the settlement must be mailed to designated recipients, including the Clerk's Office of the U.S. District Court and representatives from the involved law firms, no later than February 5, 2026. It’s important to include pertinent details in these objections to ensure they are considered.
How to Acquire More Information
For those affected, further information can be obtained via several platforms:
- - A detailed Notice of Proposed Settlement of Class Action can be accessed through Deloitte SCANA Securities Litigation’s official site.
- - Individuals may also contact the claims administrator directly at 877-768-7047 for inquiries regarding the settlement or their potential claims.
It is crucial that all class members take necessary actions before the corresponding deadlines. With the proposed settlement nearing approval, SCANA investors have a real opportunity to seek compensation for their losses endured during the specified period. Keeping track of deadlines and promptly responding to this settlement notice will be vital for affected parties as they navigate this complex legal process.
Topics Financial Services & Investing）
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