3 retired SCANA executives will be tried for hiding a $9 billion nuclear fiasco.
Federal Judge Margaret Seymour ruled enough evidence exists to show a jury the executives deliberately concealed from investors the failing status of their nuclear power plant, The State newspaper reported.
The 3 are former CEO Kevin Marsh, chief financial officer Jimmy Addison and chief operating officer Stephen Byrne. All 3 retired with multi-million dollar retirement packages.
Seymour’s ruling will allow a civil fraud lawsuit by former SCANA shareholders seeking to recover $2.7 billion in stock losses. Their shares plummeted from $72 a share to $43.
The shareholders’ evidence shows the 3 “acted at least recklessly and possibly deliberately” to cover the failures, Seymour wrote in a 26-page order.
Lawyers for the 3 argued the shareholders’ lawsuit should be dismissed for lack of evidence. A SCANA attorney told the judge the 3 told the truth about risks.
The judge agreed with shareholder lawyer John Browne, who argued, “They lied to everyone, and they did it intentionally.”
Browne repeatedly cited the critical Bechtel report which detailed cost overruns, construction delays and shoddy work at the site. 
SCANA executives hid the report, Browne said.
The judge kept 3 former SCANA board members — Harold Stowe, Maybank Hagood and James Roquemore — as defendants.
The FBI and the US Attorney’s office are also investigating criminal fraud.