See: Grae v. Corrections Corporation of America, U.S.D.C. Corrections Corporation of America is a civil rights case which challenged the monopolies that phone companies and the Corrections Corporation of America (CCA) maintain in the prison systems of the United States. RADNOR, Pa., Aug. 24, 2016 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP announces that a shareholder class action lawsuit has been filed against Corrections. Levi & Korsinsky announces the commencement of a class action lawsuit in the USDC for the Middle District of Tennessee on behalf of shareholders of Corrections Corporation of America (NYSE: CXW) who purchased shares between February 27, 2012 and August 17, 2016.. Corrections Corporation of America Securities Fraud Class Action | New Cases | Kessler Topaz Submit your Information Please complete this form and list your purchase and sale transaction (s) for Corrections Corporation of America (NYSE: CXW) between February 27, 2012 and August 17, 2016, inclusive (the "Class Period"): Get no payment. Adrienne O. Sections 151 et seq., and other laws of the District of Columbia. 27, 2012 and August 17, 2016, inclusive (the "Class Period"). The day of the decision, it dropped to just $13.04. Prison Staff Are Refusing Vaccines. 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A securities class action lawsuit was recently filed against the private prison giant Corrections Corporation of America, alleging that the company made false or misleading statements, and failed to disclose certain information that would have otherwise been important for investors to know. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The precipitous decline in the market value caused the class to suffer significant losses and damages., CoreCivic President and CEO Damon Hininger said the company was glad to put the litigation behind itself. Join us on the front lines for social justice! They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. or Adrienne O. Community Corrections E-Carceration The world's largest private prison company. Lawsuits are now being filed on behalf of Elmiron patients who suffered permanent retinal injuries and seek to recover money for physical and mental anguish, medical expenses and more. Shares of Corrections Corp Of America (NYSE:CXW) declined from $27.38 per share to . Amalgamated alleged it alone lost $1.2 million when CoreCivics stock price fell sharply after an August 18, 2016 memorandum by then-Deputy U.S. Attorney General Sally Q. Yates directed the federal Bureau of Prisons (BOP) to phase out private prison contracts a directive later reversed by the Trump administration. In March of 2007, CCR and its partners filed an alternative rulemaking proposal. CoreCivics defense was that an August 11, 2016 report by the Department of Justices Office of the Inspector General (OIG) laid bare the problems in privately-operated federal prisons. Layn R. Phillips (Ret.). Write to the Court about why you do not like the Settlement, the Plan of Allocation, and/or the request for attorneys fees and expenses. Investors who purchased CCA securities during the Class Period may seek to be appointed by the Court as a lead plaintiff representative of the class. By signing exclusive agreements that typically result in excessively high rates and surcharges on collect-only calling by prisoners, their constitutional rights to speech and association, their rights to foster and maintain family relations under the First and Fourteenth Amendments, their rights to due process and equal protection of law under the Fifth and Fourteenth Amendments, and their right to unimpaired freedom of contract under Article 1, Section 10, are all being violated. Defendants deny each and all of Plaintiffs allegations. Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. (M.D. Following Yates announcement, CCAs stock fell $9.65, or 39.45%, to close at $17.57 on August 18, 2016, the complaint alleged. New to ClassAction.org? Filed: May 31, 2017 3:17-cv-01112-JLS-NLS. The Stipulation (together with the Exhibits thereto) reflects the final and binding agreement between the Settling Parties. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). Case No. Detainees who were paid small wages for their work, the case alleges, were only allowed to spend these funds at CoreCivics commissary. The class action investors who filed the suit are primarily hedge funds, union pension funds and other institutional investors looking to turn a buck on mass incarceration. Goldberg Law PC announces that a class action lawsuit has been filed against Corrections Corporation of America .. | February 6, 2023. Did you purchase shares of Corrections Corporation of America (2016) prior to the Class Period? The suit, brought under the Fair Labor Standards Act, alleged that CCA had . Private prisons do not save substantially on costs; and as noted in a recent report by the Departments Office of Inspector General, they do not maintain the same level of safety and security.. (484) 270-1453; or via e-mail at info@ktmc.com. The agreement included, among other things, the Settling Parties agreement to settle the Litigation in return for a cash payment of $56,000,000 for the benefit of the Class, subject to the negotiation of the terms of a Stipulation of Settlement and approval by the Court. PLN managing editor Alex Friedmann, who owns a small amount of CoreCivic stock as an activist investor, mainly for the purpose of filing shareholder resolutions, has filed a separate derivative suit against CoreCivic that was stayed pending developments in the Grae case, which remains pending. Check, Esq. Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. Wedbush Cuts Price Target on CoreCivic to $15 From $17, Citing Cash Flow Forecasts, Kee.. Wells Fargo Upgrades CoreCivic to Outperform from Neutral, Sets $17 Price Target. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com. On January 10, 2017, the Court appointed Plaintiff Amalgamated Bank, as Trustee for the LongView Collective Investment Fund as the Lead Plaintiff and appointed Lead Counsel. YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT, , Civil Action No. Check, Esq., D. Seamus Kaskela, Esq. Those statements came as no surprise to PLN readers, for we have regularly reported the deficiencies of services and security in CCA and CoreCivic prisons for over 31 years now. GENERAL INSTRUCTIONS 1. Provides Earnings Guidance for the Year 2023, CoreCivic, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2022, CoreCivic, Inc. Reports Earnings Results for the Full Year Ended December 31, 2022, CoreCivic Announces 2022 Fourth Quarter Earnings Release and Conference Call Dates, CoreCivic to Redeem 4.625% Senior Notes Due 2023. The law firm of Robbins Geller Rudman & Dowd LLP represents you and other Class Members. This browser does not support PDFs. The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the. The suits allege that the drug is defective and unreasonably dangerous and was not adequately labeled to warn both patients and doctors of its risks. The Settling Parties engaged in good faith negotiations, but did not reach a settlement. In reaching this conclusion, U.S. District Court Judge Aleta A. Trauger quoted emails in which CoreCivic executives expressed concerns about the pending report, then surprise and pleasure that it did not dwell on some of the more serious deficiencies at private prisons such as continuous understaffing and was directed more at problems with the BOPs oversight role. Whether anything actually comes of that remains to be seen. Ask to speak in Court about the fairness of the Settlement. CCA, together with its subsidiaries, owns, operates, and manages private prisons and other correctional facilities in the United States, and provides inmate residential and prisoner transportation services for governmental agencies. New York, NY 10012, Main: 212-614-6464 The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible. Class Member. A 2012 report noted that 40-43% of CCAs revenue was derived from contracts with the federal government through operation of prisons and detention centers. Bell, Esq.) CoreCivic, Inc., formerly known as Corrections Corporation of America, is the defendant in a 36-page proposed class action lawsuit alleging the company operates its detention facilities in violation of state and federal human trafficking and labor laws. Copyright 2023 Surperformance. 666 Broadway This is the only option that. Plaintiffs Consolidated Complaint for Violation of the Federal Securities Laws (the Complaint), filed on March 13, 2017, alleges that Defendants violated 10(b) and 20(a) of the Securities Exchange Act of 1934. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, https://www.ktmc.com/new-cases/corrections-corporation-of-america#join, Final Deadline Approaching on March 7, 2023: Kessler Topaz Meltzer & Check, LLP Reminds Enovix Corporation Investors of Class Action Lawsuit Deadline, Lead Plaintiff Deadline on March 7, 2023 for Enovix Corporation Investors - Kessler Topaz Meltzer & Check, LLP Reminds Investors of Class Action Lawsuit Filed Against Enovix Corporation. CCR filed a petition for rulemaking with the FCC. The complaint in this action was not filed by Kessler Topaz Meltzer & Check. The district court held that Amalgamated was entitled to the rebuttable presumption that it relied on the companys material public statements when making stock purchases. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. As more fully described in the Notice of Proposed Settlement of Class Action(the "Notice"), the initial complaint in this action was filed on August 23, 2016. In order to be appointed as a lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class in the action. The Class Representative alleges that defendants engaged in a scheme to defraud and made numerous materially false and misleading statements and omissions to investors regarding CCAs business and operations, including by falsely stating that: (i) the outsourcing of correctional services to CCA resulted in improving correctional services for government agencies, including the BOP; (ii) CCAs facilities were operated in accordance with applicable policies, procedures and contractual requirements; (iii) CCAs renewal rate on contracts was and would remain high because of the quality of services it provided to government customers; and (iv) the outsourcing of correctional services to CCA resulted in significant costs savings for government agencies, including the BOP. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). New York, NY 10012, Main: 212-614-6464 07/28/2021. Check, Esq., D. Seamus Kaskela, Esq. Wedbush Cuts Price Target on CoreCivic to $15 From $17, Citing Cash Flow Forecasts, Kee.. Wells Fargo Upgrades CoreCivic to Outperform from Neutral, Sets $17 Price Target. The court wrote that the fundamental question was, Did a statement matter? A successful plaintiff must show the misleading statements or failure to disclose was material to a negative stock price impact that caused the loss, but those were issues for trial, not for certifying a class. Ms. Wright was present for the announcement along with other family members of prisoners, advocates and other allies. The only way to be eligible to receive a payment from the Settlement. Are you a current or former employee of Corrections Corporation of America (2016)? On August 23, 2016, the initial complaint in this securities class action was filed against Corrections Corporation of America (CCA) and certain of CCAs top officials, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act. 3:16-cv-02267, was filed in the District Court. Investors who purchased CCA securities during the Class Period may seek to be appointed by the Court as a lead plaintiff representative of the class. Private prison operator CoreCivic, formerly known as Corrections Corporation of America (CCA), paid $56 million to settle a class action lawsuit alleging it violated securities laws that resulted in a loss to stock holders. CoreCivic, Inc. Reports Impairment of Real Estate Assets for the Fourth Quarter Ended D.. CoreCivic, Inc. | February 7, 2023 Advanced search Log in Forgot password ? KESSLER TOPAZ MELTZER & CHECK, LLP 2023 ALL RIGHTS RESERVED. Seamus Kaskela, Esq.Adrienne O. Share Donations: 212-614-6448 Tranche Update on CoreCivic, Inc.'s Equity Buyback Plan announced on May 16, 2022. https://www.ktmc.com/new-cases/corrections-corporation-of-america#join, CoreCivic Reports Fourth Quarter and Full Year 2022 Financial Results.
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