Deloitte to Pay $34 Million in Nuclear Reactor Investor Suit

Deloitte & Touche LLP on Friday agreed to pay investors $34 million in cash to settle securities fraud claims that were part of litigation over a failed nuclear reactor project in South Carolina.

The deal “is one of the largest securities class action settlements against an auditing firm in the last decade,” the motion for preliminary approval filed in the US District Court for the District of South Carolina said.

The settlement will resolve allegations that Deloitte made false and misleading statements about their audits of a Scana Corp. project to build two nuclear reactors in Jenkinsville, S.C.. The project was abandoned in 2017, after years of delays and costs exceeding $20 billion.

The complaint from lead plaintiff International Brotherhood of Electrical Workers Local 98 Pension Fund alleged Deloitte knew the project was failing but continued to issue clean audit reports for Scana. The lawsuit also alleged the price of Scana common stock was artificially inflated because of Deloitte’s misleading statements.

The $34 million deal adds to a $192.5 million settlement brought against Scana in earlier litigation, the motion said.

The investors are represented by Tinkler Law Firm LLC and Cohen Milstein Sellers & Toll PLLC.

Deloitte is represented by Moore & Van Allen PLLC and Milbank LLP.

The case is Int’l Brotherhood of Elec. Workers Loc. 98 Pension Fund v. Deloitte & Touche LLP, D.S.C., No. 3:19-cv-03304, 10/17/25.