Deloitte Stuck With Investor Class Over Nuke Plant Audit Reports

Deloitte & Touche LLP failed to convince a federal court to deny certification of a class of investors suing over its audit reports on the ultimately abandoned $9 billion Scana Corp. nuclear reactor project

The International Brotherhood of Electrical Workers Local 98 Pension Fund was typical of other class members in relying on alleged misrepresentations from the consulting firm, and Deloitte failed to shake a predominance finding when it argued those misrepresentations weren’t connected to later corrective notices, according to the US District Court for the District of South Carolina.

IBEW alleged that Deloitte, Scana’s longtime auditor, knew the V.C. ...