Defendant Name: SCANA Corporation

Defendant Type: Subsidiary of Public Company
Public Company Parent: Dominion Energy, Inc.
SIC Code: 4911
CUSIP: 25746U10

Initial Case Details

Legal Case Name SEC v. SCANA Corporation, Dominion Energy South Carolina, Inc. (f/k/a South Carolina Electric & Gas Company), Kevin B. Marsh, and Stephen A. Byrne
First Document Date 27-Feb-2020
Initial Filing Format Civil Proceeding
Case Number 20-cv-00882
Allegation Type Issuer Reporting and Disclosure
Federal District Court South Carolina, District of South Carolina

Violations Alleged

Exchange Act
Sec 10(b) + Rule 10b-5
Rule 12b-20
Sec 13(a)
Rule 13a-1
Rule 13a-11
Rule 13a-13
Securities Act
Sec 17(a)(1)
Sec 17(a)(2)
Sec 17(a)(3)
Sec 17(a) (Not specified)
Additionally, Kevin B. Marsh is alleged to have aided and abetted SCANA Corporation's violation of Sec 10(b) + Rule 10b-5 of the Exchange Act.
Stephen A. Byrne is alleged to have aided and abetted SCANA Corporation's violation of Sec 10(b) + Rule 10b-5 of the Exchange Act.
Kevin B. Marsh is alleged to have aided and abetted SCANA Corporation's violation of Rule 12b-20 of the Exchange Act.
Kevin B. Marsh is alleged to have aided and abetted SCANA Corporation's violation of Sec 13(a) of the Exchange Act.
Kevin B. Marsh is alleged to have aided and abetted SCANA Corporation's violation of Rule 13a-1 of the Exchange Act.
Kevin B. Marsh is alleged to have aided and abetted SCANA Corporation's violation of Rule 13a-11 of the Exchange Act.
Kevin B. Marsh is alleged to have aided and abetted SCANA Corporation's violation of Rule 13a-13 of the Exchange Act.
Kevin B. Marsh is alleged to have aided and abetted SCANA Corporation's violation of Sec 17(a) (Not specified) of the Securities Act.
Stephen A. Byrne is alleged to have aided and abetted SCANA Corporation's violation of Sec 17(a) (Not specified) of the Securities Act.

Resolutions

First Resolution Date 02-Dec-2020

Related Documents:

comp24751 27-Feb-2020 Complaint
Complaint
The SEC stated: "This case arises out of a historic securities fraud perpetrated by senior executives at SCANA Corporation and its subsidiary South Carolina Electric & Gas Company (“SCE&G”) (jointly referred to as “SCANA”). SCANA and its senior executives repeatedly deceived investors, regulators, and the public over several years about the status of a $10 billion nuclear energy project. When the truth was revealed, it resulted in hundreds of millions of dollars in losses to SCANA’s investors and to South Carolinians."
LR-24751 27-Feb-2020 Litigation Release
Litigation Release
The SEC stated that: "[It] charged SCANA Corp., two of its former top executives, and South Carolina Electric & Gas Co. (SCE&G), now known as Dominion Energy South Carolina Inc., with defrauding investors by making false and misleading statements about a nuclear power plant expansion that was ultimately abandoned."
2020-44 27-Feb-2020 Press Release--Civil Action
SEC Charges South Carolina Energy Companies, Former Executives With Defrauding Investors
The SEC stated that: "[It] charged SCANA Corp., two of its former top executives, and South Carolina Electric & Gas Co. (SCE&G), now known as Dominion Energy South Carolina Inc., with defrauding investors by making false and misleading statements about a nuclear power plant expansion that was ultimately abandoned."
2020-301 02-Dec-2020 Press Release--Civil Action
Energy Companies Agree to Settle Fraud Charges Stemming From Failed Nuclear Power Plant Expansion
The SEC announced that: "SCANA Corp. and its subsidiary South Carolina Electric & Gas Co. (SCE&G) have agreed to settle the SEC's lawsuit charging them with defrauding investors by making false and misleading statements about a nuclear power plant expansion that was ultimately abandoned. The proposed settlement, which remains subject to court approval, would require SCANA to pay a $25 million penalty, and SCANA and SCE&G to pay $112.5 million in disgorgement plus prejudgment interest."
LR-24976 03-Dec-2020 Litigation Release
Litigation Release
The SEC announced that: "SCANA Corp. and its subsidiary South Carolina Electric & Gas Co. (SCE&G) have agreed to settle the SEC's lawsuit charging them with defrauding investors by making false and misleading statements about a nuclear power plant expansion that was ultimately abandoned. The proposed settlement, which remains subject to court approval, would require SCANA to pay a $25 million civil penalty, and SCANA and SCE&G to pay $112.5 million in disgorgement plus prejudgment interest."
court_doc50_20-cv-00882 03-Dec-2020 Court Docket Document
Order and Final Judgment as to Defendants SCANA Corporation and Dominion Energy South Carolina, Inc.
On December 3, 2020, the Court issued a final judgment as to SCANA Corporation stating that defendant "consented to the Court’s jurisdiction over Defendants and the subject matter of this action; consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment"

Other Defendants in Action: