The Santee Cooper Board of Directors today approved a settlement agreement in the case of Murray C. Turka et al v. South Carolina Public Service Authority et al. The agreement resolves Plaintiffs’ claims related to certain minibonds and authorizes management to execute the settlement agreement, which will then be submitted to the U.S. District Court to consider approval.
The settlement, for $2 million plus up to $35,000 for costs of class administration, provides a release from the Plaintiffs related to minibonds that Santee Cooper issued from 2014 to 2016.
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