Deloitte-Scana $34M Securities Class Action Settlement

Investors who purchased or otherwise acquired Scana Corp. publicly traded common stock between Feb. 26, 2016, and Dec. 20, 2017, may be eligible to claim a cash payment from a class action settlement.

Deloitte & Touche LLP and Deloitte LLP agreed to pay $34 million to settle a class action lawsuit alleging they made false and misleading statements during their audits of Scana Corp., which allegedly inflated the price of Scana common stock during the class period.

Who can file a claim?

The settlement class includes investors who purchased or otherwise acquired Scana Corp. publicly traded common stock (NYSE: SCG) between Feb. 26, 2016, and Dec. 20, 2017, inclusive, whose purchases or acquisitions allegedly caused them financial harm.

Additional details

• Both individuals and entities can be class members.
• The settlement administrator will automatically process claims for investors who previously submitted a claim in the Scana I settlement and do not opt out of this settlement.
• Investors who did not submit a claim in the Scana I settlement must file a new claim to participate.
• Beneficial owners who held shares through a broker or nominee are eligible to file a claim.
• Executors, administrators, guardians, conservators and trustees may submit claims on behalf of others and must provide documentation proving their authority.
• ERISA plan participants must not include plan-related transactions; only plan trustees may submit claims for employee benefit plans.

How much can class members get?

The total settlement fund is $34,000,000. The amount each class member will receive depends on several factors:

• The number of valid claims submitted
• The number of shares purchased or acquired during the class period
• The timing of each purchase, sale and holding
• The total recognized losses of all claimants

The settlement administrator will distribute payments on a pro rata basis according to a court-approved plan of allocation.

• The estimated average recovery before deductions is approximately $0.24 per affected share. After estimated attorneys’ fees and expenses, the average net recovery is approximately $0.12 per affected share.
• Recognized loss amounts depend on transaction timing and share status:
• For shares sold during the class period, the recognized loss equals the lesser of the inflation per share at purchase minus inflation per share at sale or the purchase price minus the sale price.
• For shares sold after the class period, the recognized loss equals the lesser of the purchase price minus the sale price or the purchase price minus the applicable 90-day lookback average price.
• For shares held through the applicable lookback period, the recognized loss equals the lesser of the inflation per share at purchase or the purchase price minus the applicable lookback price.

• The settlement administrator will set the recognized loss to zero if the calculation results in a negative number.
• If total recognized losses exceed the net settlement fund, the settlement administrator will reduce payments on a pro rata basis.
• Claimants whose calculated payment would be less than $10 will not receive a payout.

How to claim a Deloitte-Scana securities class action settlement payment

To claim an award, class members may submit a claim online or download, print and complete the PDF claim form and mail it to the settlement administrator. The deadline to file a claim is April 16, 2026.

Settlement administrator's mailing address: Deloitte Scana Securities Litigation, c/o Epiq, P.O. Box 2299, Portland, OR 97208-2299

Proof or documentation required to submit a claim

All class members must provide the last four digits of their Social Security number or their full taxpayer identification number. They must also provide purchase, acquisition and sale information, including:

• Trade dates
• Number of shares purchased, acquired or sold
• Total purchase or sale price

Claimants must provide documentation supporting their holdings and transactions in Scana common stock. Acceptable proof includes:

• Broker confirmation slips
• Broker account statements
• Authorized statements from a broker containing transactional and holding information

$34 million settlement fund

The $34,000,000 settlement fund includes:

• Settlement administration costs: To be determined
• Attorneys’ fees: Up to $11,332,200
• Attorneys’ expenses: Up to $6,040,000
• Payments to eligible class members: The remainder of the fund

Important dates

• Opt-out deadline: Feb. 5, 2026
• Fairness hearing: Feb. 26, 2026
• Deadline to file a claim: April 16, 2026

When is the Deloitte-Scana securities class action payout date?

The settlement administrator will issue payments after the court resolves any appeals and grants final approval to the settlement. This process may take several months after the fairness hearing.

Why did this class action settlement happen?

The class action lawsuit alleged Deloitte & Touche LLP and Deloitte LLP made false or misleading statements during their audits of Scana Corp., which allegedly caused investors to purchase Scana common stock at artificially inflated prices.

Deloitte denied all allegations of wrongdoing and liability but agreed to settle to avoid the risks, costs and delays of further litigation.

Sources

1. Class notice
2. Claim form