Shareholder rights law firm Johnson Fistel LLP has launched an investigation into whether the board members of SCANA Corporation breached their fiduciary duties in connection with the proposed sale of the Company to Dominion Energy.
On Wednesday, SCANA announced that it had signed a definitive merger agreement with Dominion Energy. Under the terms of the agreement, SCANA shareholders would receive 0.6690 shares of Dominion Energy common stock for each share of SCANA common stock.
Shareholders will be subject to the future price fluctuation of Dominion Energy’s stock price.
The investigation concerns whether the SCANA board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for SCANA shares of common stock. The 52-week high for SCANA was $73.81.
If you are a shareholder of SCANA and believe the proposed buyout price is too low or you’re interested in learning more about the investigation or your legal rights and remedies, contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
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Chris Graham
