/PRNewswire/ -- Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in United States District Court for the Middle District of Tennessee. Forgot password ? Therefore, class-action status was granted. The banks lawsuit essentially claims that CoreCivic officials made numerous statements about how well the company was fulfilling its contracts with the federal government and how happy their clients were with CoreCivics performance when, in fact, the companys facilities were receiving poor marks on audits and its executives were exchanging emails about how bad the situation was and how the contracts were in danger. 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"): Corrado Rizzi is the Senior Managing Editor of ClassAction.org. Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. 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. All rights reserved. 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. 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. . To recover as a Member of the Class based on your claims in the action entitled Grae v. Corrections Corporation of America, et al., Civil Action No. Tenth Circuit Revives Suit Against Colorado Jail Guard in Death of Mentally Disabled Detainee, Nov. 30, 2022. Civil Action No. 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. This website has been established to provide general information related to the proposed settlement of the case entitledGrae v. Corrections Corporation of America, et al., Civil Action No. Bell, Esq. Donations: 212-614-6448 The plaintiffs also alleged that the agreements violated the Sherman Anti-Trust Act, 15 U.S.C. (M.D. Ms. Wright was present for the announcement along with other family members of prisoners, advocates and other allies. submit will be maintained as confidential. Get no payment. Join us on the front lines for social justice! 666 Broadway For more information, visit Batteas Corrections Corporation of America case summary. Specifically, the suit claims that, among other things, Corrections Corporation did not advise investors as to shortcomings in its safety and security standards, and that it was apparently less efficient when it came to providing these things tothe Federal Bureau of Prisons. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). Adrienne O. They simply do not provide the same level of correctional services, programs, and resources, Yates said in making the announcement. The case is currently in discovery. This settlement will help ensure they dont lose money betting on the business of caging people for profit. 3:16-cv-02267 (the "Litigation"), pending before the United States District Court for the Middle District of Tennessee (the "Court"). Check, Esq.D. (M.D. Wright v. Corrections Corporation of America. Judge Trauger found there was a strong case to be made that CoreCivic got off easy with respect to the OIG report. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. In 2014 and 2015 reports, CCA said, We are committed to equipping offenders in our care with the services, support, and resources necessary to return the community as productive, contributing members of society., The facade fell off on August 18, 2016, when Deputy General Attorney Sally Yates announced the Department of Justice had decided to end its use of private prisons. The Settling Parties engaged in good faith negotiations, but did not reach a settlement. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. The complaint in this action was not filed by Kessler Topaz Meltzer & Check. $2.57 Million Settlement for Hogtying Death in NC Police Custody, Nov. 30, 2022. 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 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. D. Seamus Kaskela, Esq. CoreCivic, Inc. Reports Impairment of Real Estate Assets for the Fourth Quarter Ended D.. CoreCivic, Inc. Corrections Corp Of America (NYSE:CXW) Investor Securities Class Action Lawsuit 08/23/2016. The class specifically excluded CCA and CoreCivic officers named as defendants. Advanced search Log in. Copyright 2023 Surperformance. Status. Please read this entire Notice carefully. CoreCivic and its executives, as might be expected, typically portrayed its services in a positive light to shareholders, the district court wrote. 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. New York, NY 10012, Main: 212-614-6464 Case No. By signing this form you are by Matt Clarke On March 26, 2019, a federal district court in Tennessee granted class-action certification in a shareholder lawsuit brought against CoreCivic, formerly Corrections Corporation of America, that alleged the company made statements misrepresenting the quality and value of its services, resulting in losses to stockholders. Goldberg Law PC announces that a class action lawsuit has been filed against Corrections Corporation of America .. | February 6, 2023. info@ktmc.com, SOURCE: Kessler Topaz Meltzer & Check, LLP. 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. 27, 2012 and August 17, 2016, inclusive (the "Class Period"). See: Grae v. Corrections Corporation of America, USDC, C. Dist. This is the only option that. While Corrections Corporation of America still has a number of contracts with the DOJ that have yet to expire, the decision had a massive negative impact on the companys stock prices, which began reeling more or less immediately after the announcement. CORRECTIONS CORPORATION OF AMERICA, et al., Defendants. ) In some instances CoreCivic pays detainees $1 per day, and in other instances detainees are not compensated with wages at all for their labor and services, the lawsuit claims, adding that the defendant reported nearly $1.8 billion in total revenues from 2016. In the lawsuit, plaintiffs alleged that the unconscionable arrangements violated 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. 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 case claims punishments for non-compliant detainees could range from physical restraint to sustained restriction, deprivation, and violation of their liberty, and solitary confinement.. Atlassian Class Action: Levi & Korsinsky Reminds Atlassian Corporation Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of April 4, 2023 - TEAM Published: Feb. 13, 2023 . Wedbush Upgrades CoreCivic to Outperform From Neutral, Adds Stock to Best Ideas List, A.. Following this news, shares of the Company's stock declined $9.65 per share, or over 35%, to close on August 18, 2016 at $17.57 per share, on unusually heavy trading volume. 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. 280 King of Prussia Road 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. For two years, CCR participated in a mediation process with defendants and the Special Enforcement unit of the FCC as required. 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. The mediation was preceded by submission of mediation statements by the Settling Parties. On March 26, 2019, a federal district court in Tennessee granted class-action certification in a shareholder lawsuit brought against CoreCivic, formerly Corrections Corporation of America, that alleged the company made statements misrepresenting the quality and value of its services, resulting in losses to stockholders. The settlement was greeted cheerfully by the stock market, as seen by the 3.5% gain in CoreCivics stock price after the it was announced. Shareholders who have incurred losses in Corrections Corporation of America securities are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.. The lawsuit captioned Grae v. Corrections Corporation of America, et al., Case No. Shares of Corrections Corp Of America (NYSE:CXW) declined from $27.38 per share to . The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the. [T]ime has shown the [private prisons] compare poorly to our own Bureau facilities. CCA also boasted that, as of December 10, 2010, the American Correctional Association (ACA), an independent organization of corrections industry professionals that establishes standards by which a correctional facility may gain accreditation, had accredited 85% of its facilities. Check, Esq., D. Seamus Kaskela, Esq. Fax: 212-614-6499, CCR filed a petition for rulemaking with the FCC. The petition sought restructuring of long distance inmate calling services to introduce competition. 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. Guard Misconduct, Settlements, Excessive Force (Wrongful Death) . Families, South Carolina Fails to Evacuate Prisoners Threatened by Hurricane, New York Sheriff Loses Lawsuit, Must Report Serious Prisoner Incidents to State Agency, South Carolina: Two Women Drown in Sheriffs Transport Van, Deputies Charged, New Mexico Riot Raises Questions About Private Prison Companys Competence, New Indianapolis Jail Will Not be Run by a Private Prison Company, but is Being Built on Contaminated Land, GEO Group Produces Litigation Documents After HRDC Files Public Records Suit, Imagine Pleading Guilty Because You Cant Afford to Call Your Lawyer, Canada: Long-Term Segregation of Mentally Ill Prisoners Unconstitutional; $20 Million in Damages, Federal Court Rules in Favor of HRDC in Virginia Jail Censorship Suit, Settlement Reached in Suit Over Failure to Keep Released L.A. County Prisoners from Becoming Homeless, I Had Nothing: How Parole Perpetuates a Cycle of Incarceration and Instability, Sixth Circuit Rules Suit May Proceed Where State Judge Offered Reduced Sentences for Sterilization, The Second Step: Invest in Prison Education Programs, Reinstate Pell Grants, Virginia Supreme Court Upholds Derivative Sovereign Immunity for Jail Physician, Fifth Circuit: No Qualified Immunity for Mississippi Sheriffs in Suit Over Mentally Ill Mans Years-long Unlawful Detention, Federal Judge Refuses to Shorten Corruption Sentence for Former Head of New York City Jail Guards Union, Fifth Circuit Denies Qualified Immunity to Mississippi Cops Who Let Injured Hemophiliac Bleed Out in Jail, Sixth Circuit: Unarmed Bank Robber Who Ordered Tellers to Get on the Floor Not Subject to Enhancement for Physical Restraint, Music Stops in Fifth Circuits Qualified Immunity Dance, Leaving Plaintiffs With Shortened Discovery Period, Fifth Circuit Holds PLRAs Three-Strikes Provision Does Not Apply to Actions Removed From State Court, Plainly Grossly Inadequate: Federal Court Finds Arizona Prison Healthcare Deliberately Indifferent to Prisoners Risk of Serious Harm, Eighth Circuit Says Judge Dismissing Claim of Federal Prisoner in Arkansas Was Premature in Counting It a PLRA Strike, After Federal Judge Censors Lawyers Tweets About CoreCivic, Company Settles Suit Over Tennessee Prisoners Murder by Cellmate, Class Certified in Orange Crush Shakedown Lawsuit by Illinois Prisoners, ICE Ignores Inspector Generals Call for Immediate Removal of Migrant Detainees from CoreCivic New Mexico Detention Facility, CoreCivic Workers Unionize and Go On Strike at Arizona Prison, Arizona Closing Prison, Moving Prisoners to CoreCivic Lockup, GED Cheating Scheme Uncovered at Montana CoreCivic Prison, Class of Juvenile Prisoners Certified in Suit Against Florida DOC, Federal Judge Allows Wiretapping Case to Proceed Against CoreCivic for Recording Attorney-Client Conversations at Nevada Prison, $405,000 Paid to Prisoner Disabled and Left Untreated at LaSalle-Managed Louisiana Jails, U.S.D.C. District Judge Gladys Kessler acknowledged the civil rights concerns, but referred the case to the Federal Communications Commission, under the doctrine of primary jurisdiction. Additional sources: usnews.com, tennessean.com. | February 7, 2023 Advanced search Log in Forgot password ? 7th Floor Notice of Proposed Settlement of Class Action. Following this news, shares of the Company's stock declined $9.65 per share, or over 35%, to close on August 18, 2016 at $17.57 per share, on unusually heavy trading volume. 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. The only way to be eligible to receive a payment from the Settlement.

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