Lawyers Spar Over $64 Million in Fees In $2.2 Billion South Carolina Nuclear Settlement
Attorneys argued for more than three hours Tuesday over whether a judge should approve the $2.2 billion settlement of a class-action lawsuit over SCE&G’s failed nuclear plant construction project and the nine electric rate hikes that paid for it, reports the Durham Herald Sun.
The main point of contention was whether the 13 law firms that fought SCE&G for months before negotiating the settlement should earn $64 million in fees — money that could otherwise add to the cash refunds and rate credits going to the Cayce-based utility’s customers, writes the herald Sun‘s Avery G. Wilks.
A lawyer for the 13 law firms told the judge they took a tremendous risk in suing SCE&G. Facing long odds and high-powered defense lawyers, they spent 15 months, 26,000 hours and $865,000 building their case with star witnesses and crucial documents, he said.