This action is still ongoing. You will, however, still be a Member of the Class, which means that you give up your right to ever be part of any other lawsuit against the Defendants or any other Released Defendant Parties about the legal claims being resolved by this Settlement and you will be bound by any judgments or orders entered by the Court in the Litigation. The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the. The only way to be eligible to receive a payment from the Settlement. 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. 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 Corporation of America (NYSE: CXW) ("CCA" or the "Company") on behalf of purchasers of the Company's securities between February 27, 2012 and August 17, 2016, inclusive (the "Class Period"). Private Prison Giants GEO And CCA Accused of "False and Misleading They also alleged that the agreements violate the Sherman Anti-Trust Act, 15 U.S.C. 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. 2009 the U.S. District Court for the District of Kansas unsealed a $7 million settlement agreement in a nationwide class-action wage and hour lawsuit against CCA. This is the only option that. The complaint alleges that CCA and certain of its executive officers made a series of false and misleading statements and/or failed to disclose to investors during the Class Period that: (i) CCA's facilities lacked adequate safety and security standards and were less efficient at offering correctional services than the Federal Bureau of Prisons' ("BOP") facilities; (ii) CCA's rehabilitative services for inmates were less effective than those provided by BOP; (iii) consequently, the U.S. Department of Justice ("DOJ") was unlikely to renew and/or extend its contracts with CCA; and (iv) as a result of the foregoing, CCA's public statements were materially false and misleading at all relevant times. Forgot password ? Detainees who were paid small wages for their work, the case alleges, were only allowed to spend these funds at CoreCivics commissary. Copyright 2023 Surperformance. Its alleged that because the company did not reveal these issues to investors, it materially misled them and caused significant financial harm when the stock price dropped sharply. 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. (the "Stipulation") dated June 24, 2021, which can be found and downloaded by clicking on the Case Documents tab above. Bell, Esq. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss CCA/CoreCivic Securities Settlement Fax: 212-614-6499, CCR filed a petition for rulemaking with the FCC. PDF United States District Court Middle District of Tennessee Corrections 3:16-cv-02267 (the "Litigation"), pending before the United States District Court for the Middle District of Tennessee (the "Court"). PDF Notice of Proposed Settlement of Class Action America, Inc. ("Cca" or February 6, 2023. The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement (the "Stipulation") dated June 24, 2021, which can be found and downloaded by clicking on the Case Documents tab above. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. 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. 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. Corrections Corporation of America Securities Fraud Class Action | New These exclusive dealing agreements resulted in the same civil rights violations as have been alleged in CCRs other two prison telephone cases. 2023 BATTEA CLASS ACTION SERVICES, LLC, ALL RIGHTS RESERVED, Securities class action suit brought against Corrections Corporation of America, reforms that would ensure more proportional sentences and effective use of federal resources., Class Action Award Processing & Distribution, Securities Class Action Settlement History, visit Batteas Corrections Corporation of America case summary, Securities class action suit filed against Fiat Chrysler Automobiles, Securities class action lawsuit filed against Spectrum Pharmaceuticals . CoreCivic and its executives, as might be expected, typically portrayed its services in a positive light to shareholders, the district court wrote. Read more here: Camp Lejeune Lawsuit Claims. We believe that this percentage compares favorably to the percentage of government-operated adult prisons that are accredited by the ACA, the report stated. 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. The lawsuit looks to represent anyone residing in California whose account was involuntarily closed by Bank of America since February 27, 2019, resulting in the loss of their earned cash rewards on their Bank of America credit card. On August 23, 2016, an action captioned , Grae v. Corrections Corporation of America, et al. Adrienne O. Prison Staff Are Refusing Vaccines. The complaint alleges that the Company made false and/or misleading statements and/or failed to disclose: (a) that Corrections . Check, Esq.D. On February 28, 2019, the Settling Parties participated in a voluntary confidential mediation with Gregory Lindstrom, Esq. 3:16-cv-02267 (the "Litigation"), pending before the United States District Court for the Middle District of Tennessee (the "Court"). Corrections Corp Of America | shareholdersfoundation.com Other reports continued the theme of high standards that governed the operation of CCAs federal facilities. 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. For more information on this case or other class action litigations, please contact Adam Foulke at 203-987-4949 or info@battea.com. CCA shareholders who purchased securities during the Class Period may, no later than October 24, 2016, seek to be appointed as a lead plaintiff of the class. See: Grae v. Corrections Corporation of America, USDC, C. Dist. Goldberg Law PC Files Class Action Lawsuit against Corrections Martha Wright v. 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. Ordering the federal officials to not renew private prison contracts was one of the first acts President Biden made upon taking office. CCR and its partners filed an alternative rulemaking proposal requesting that the FCC establish benchmark rates for all interstate inmate calling services no higher than $0.20 per minute for debit calling and $0.25 per minute for collect calling. As detailed in the complaint, on August 18, 2016, Deputy Attorney General Sally Yates announced the DOJ's decision to end its use of private prisons, including those operated by CCA, after officials concluded that the facilities are both less safe and less effective at providing correctional services than those run by the federal government. 280 King of Prussia Road or Adrienne O. PDF Notice of Pendency of Class Action To: All Persons Who Purchased or CoreCivic, Inc. Reports Impairment of Real Estate Assets for the Fourth Quarter Ended D.. CoreCivic, Inc. Frank Krogh, Doane Kiechel, and Jennifer Kostyu, Morrison & Forester LLP, Deborah Golden, D.C. Prisoners Project,Stephen Seliger and Laurie Elkin, Seliger & Elkin Ltd. Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and Stipulation, both of which can be found and downloaded by clicking on the Case Documents tab above. The court granted their motion on April 27, 2011 and allowed the . Get no payment. Class Member. The complaint in this action was not filed by Kessler Topaz Meltzer & Check. New York, NY 10012, Main: 212-614-6464 7th Floor We recommend that you read the Notice and other relevant case documents carefully. Incarcerated People Are Paying the Price. Sections 1 et seq., the Communications Act, 47 U.S.C. 27, 2012 and August 17, 2016, inclusive (the "Class Period"). CoreCivic, Inc. Reports Impairment of Real Estate Assets for the Fourth Quarter Ended D.. CoreCivic, Inc. On May 26, 2019, the Court certified the Class consisting of all persons who purchased or otherwise acquired Corrections Corporation of America.
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