Join us on the front lines for social justice! from 8 AM - 9 PM ET. On August 23, 2016, an action captioned , Grae v. Corrections Corporation of America, et al. The lawsuit was filed August 23, 2016, on behalf of the class of stock holders of CoreCivic, which trades on the New York Stock Exchange under the ticker symbol CXW. The class consisted of persons who held CCA stock between February 27, 2012 and August 17, 2016. The submission of this form does not create an attorney-client relationship, nor an obligation on This action is still ongoing. This browser does not support PDFs. Your rights may be affected by the Settlement if you purchased or otherwise acquired Corrections Corporation of America, Inc. (CCA or the Company) (n/k/a CoreCivic) during the period from February 27, 2012 through and including August 17, 2016 (the Class Period). Correction Corporation of Americas stock price hit a high in June, rising north of $35 per share, then declining slowly but steadily over the remainder of the summer, according to data from Google Finance. The Settlement Amount and any interest it earns constitute the Settlement Fund. The Settlement Fund, after deduction of Court-approved attorneys fees and expenses, Notice and Administration Expenses, Taxes, and any other fees or expenses approved by the Court, is the Net Settlement Fund. If the Settlement is approved by the Court, the Net Settlement Fund will be distributed to eligible Authorized Claimantsi.e., Members of the Class who timely submit valid Proofs of Claim and Releasein accordance with the proposed Plan of Allocation. This is the only option that. 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. See: Grae v. Corrections Corporation of America, U.S.D.C. Ordering the federal officials to not renew private prison contracts was one of the first acts President Biden made upon taking office. 280 King of Prussia Road 7th Floor Class Action Says Bank of America Unlawfully Withholds Cash Rewards the plaintiffs in the class action lawsuit moved to sever their case from the monetary claims. You will not be charged for these lawyers. They simply do not provide the same level of correctional services, programs, and resources, Yates said in making the announcement. Forgot password ? 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"). Tenth Circuit Revives Suit Against Colorado Jail Guard in Death of Mentally Disabled Detainee, Nov. 30, 2022. If so, this lawsuit will affect your legal rights. 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. 666 Broadway Case: Kelly v. Corrections Corporation of America - Clearinghouse Date Filed. The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the. Amalgamated Bank, as Trustee for the LongView Collective Investment Fund, sought to represent a class of investors who bought and sold CoreCivic stock between February 27, 2012 and August 17, 2016, including at least 783 major institutions and numerous minor institutions and private parties who owned the companys stock during that period. The class and CoreCivic agreed on April 15, 2021 to settle the lawsuit for $56 million, which includes attorney fees and costs. Bell, Esq.) No settlement was reached however, and on October 31, 2003, CCR filed a petition for rulemaking with the FCC. you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss Defendants deny each and all of Plaintiffs allegations. Wright v. Corrections Corporation of America. By signing this form you are The plaintiffs allege the defendant threatened to punish detainees who refused to engage in tasks that the case claims included cleaning the entire facility, preparing meals for law enforcement events, clerical work, providing barber services, and preparing clothing for new inmates. The petition sought restructuring of long distance inmate calling services to introduce competition. 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. 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. Prison Staff Are Refusing Vaccines. of Phillips ADR, an experienced mediator. Corrections Corporation of America Has Long History of Wage Violations, Poor Treatment of Employees. The Trump administration reversed course on the end of private prison contracts from the government. We believe that this percentage compares favorably to the percentage of government-operated adult prisons that are accredited by the ACA, the report stated. PDF Notice of Pendency of Class Action To: All Persons Who Purchased or 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. Please read this entire Notice carefully. YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT, , Civil Action No. Bell, Esq.280 King of Prussia RoadRadnor, PA 19087(888) 299 - 7706(610) 667 - 7706info@ktmc.com, To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-class-action-filed-against-corrections-corporation-of-america--cxw-300317822.html, SOURCE Kessler Topaz Meltzer & Check, LLP. At issue were allegedly materially false and misleading statements issued during the class period. 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. 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 action suit has a class period of between Feb. 27, 2012, and Aug. 17, 2016. $56 Million Settlement in CoreCivic Securities Violation Lawsuit 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"). 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. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. CCA has history of wage violations, poor treatment of employees Notice of Proposed Settlement of Class Action. Tenn.), Case No. 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. 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. CCR filed a petition for rulemaking with the FCC. 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. Atlassian Class Action: Levi & Korsinsky Reminds Atlassian Corporation 3:16-cv-02267 (M.D. . Therefore, class-action status was granted. -, Transcript : CoreCivic, Inc., Q4 2022 Earnings Call, Feb 09, 2023, CoreCivic's Q4 Adjusted Earnings, Revenue Decline. Shares of Corrections Corp Of America (NYSE:CXW) declined from $27.38 per share to . 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. Shareholder Class Action Filed Against Corrections Corporation of 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. Camp Lejeune residents now have the opportunity to claim compensation for harm suffered from contaminated water. Ms. Wright was present for the announcement along with other family members of prisoners, advocates and other allies. Kessler Topaz Meltzer & Check, LLPDarren J. 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. 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. For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com. District Judge Gladys Kessler acknowledged the civil rights concerns, but referred the case to the Federal Communications Commission, under the doctrine of primary jurisdiction. Defendants contend that they did not engage in a scheme to defraud, did not make any false or misleading statements, disclosed all information required to be disclosed by the federal securities laws, that the prices of the Companys securities were not artificially inflated, and that no damage to the Companys stock price resulted from Defendants alleged wrongdoing. The plaintiffs also alleged that the agreements violated the Sherman Anti-Trust Act, 15 U.S.C. Expert depositions are scheduled to conclude on October 30, 2020. WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Credit Acceptance Corporation (NASDAQ: CACC) resulting from allegations that Credit Acceptance may have issued materially misleading business information to the investing public. 3:16-cv-02267 (the "Litigation"), pending before the United States District Court for the Middle District of Tennessee (the "Court"). Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. Before commenting, please review our comment policy. GENERAL INSTRUCTIONS 1. 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 . The lawsuit captioned Grae v. Corrections Corporation of America, et al., Case No. Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. A trial is scheduled for May 18, 2021. Guard Misconduct, Settlements, Excessive Force (Wrongful Death) . Copyright 2023 Surperformance. Title. In March of 2007, CCR and its partners filed an alternative rulemaking proposal. Bell, Esq.280 King of Prussia RoadRadnor, PA 19087(888) 299 - 7706(610) 667 - 7706[emailprotected], SOURCE Kessler Topaz Meltzer & Check, LLP, Cision Distribution 888-776-0942 The lawsuit, filed in August 2016 against the company and four executives, alleges CoreCivic, formerly named Corrections Corp. of America, made false and misleading statements about its. 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. Civil Action No. Seamus Kaskela, Esq.Adrienne O. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. Kessler Topaz Meltzer & Check, LLPDarren J. Delayed Nyse /PRNewswire/ -- Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in United States District Court for the Middle District of Tennessee. But the court agreed with Amalgamated that the OIG report did not address the scope of the problems. | November 22, 2022 Get class action lawsuit news sent to your inbox - sign up for ClassAction.org's free weekly newsletter here. CoreCivic and its executives, as might be expected, typically portrayed its services in a positive light to shareholders, the district court wrote. A shareholder class-action lawsuit was filed Wednesday against Corrections Corporation of America, a private prison company that was the subject of a recent Mother Jones investigation. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. In this lawsuit, plaintiffs alleged that unconscionable phone arrangements established by the Corrections Corporation of America and various telephone companies violated their constitutional rights. at (888) 299 - 7706 or at info@ktmc.com. Sections 151 et seq., and other laws of the District of Columbia. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. It owns and operates prisons and jails, including immigration jails and "community corrections" centers, and uses forced prison labor. For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com. 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. 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 world's largest private prison company. 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. (M.D. Corrections Of America : Shareholder Class Action Filed Against 3:16-cv-02267, was filed in the District Court. . Consequently, the stock has dropped 56 percent from its year-to-date high, observed just a few months earlier. Corrections Corporation of America, a nationwide class action lawsuit, seeking to enjoin, declare illegal, and recoup damages resulting from conspiracies between CCA and various telephone companies, including Evercom, Inc., MCI-Worldcom, Pioneer Telephone Corporation, AT&T, and Global Telecommunications Link, Inc. CCA operates 82 prisons and Bell, Esq.) CORRECTING and REPLACING - Business Wire The alternative proposal requests 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. The lawsuit captioned Grae v. Corrections Corporation of America, et al., Case No. Corrections Corp Of America : Class Action Lawsuit Filed Against The court granted their motion on April 27, 2011 and allowed the . Martha Wright v. Corrections Corporation of America (FCC Petition CCA shareholders may, no later than October 24, 2016, petition the Court to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check or other counsel, or may choose to do nothing and remain an absent class member. The petition sought restructuring of long distance inmate calling services to introduce competition. Read our Newswire Disclaimer. These exclusive dealing agreements allow defendants to use their control over a captive audience to unjustly enrich themselves. 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. 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. Read more here: Camp Lejeune Lawsuit Claims. For more information, visit Battea's Corrections . On February 28, 2019, the Settling Parties participated in a voluntary confidential mediation with Gregory Lindstrom, Esq. On May 31, 2019, Defendants and Plaintiff participated in another in-person mediation session with Mr. Lindstrom. at (484) 270-1453; or you may submit your information via email at info@ktmc.com, or you may click here to print a PDF of this form. 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. If Kessler Topaz, in its sole discretion, believes that 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. 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. Tenn.), Case No. 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. 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. When typing in this field, a list of search results will appear and be automatically updated as you type. 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 contract prisons are operated by three private corporations, including Corrections Corporation of America. For more information on this case or other class action litigations, please contact Adam Foulke at 203-987-4949 or info@battea.com. Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Corrections 3:16-cv-02267, has been certified by the District Court as a class action; and Amalgamated Bank, as Trustee for . Corrections Corp Of America | shareholdersfoundation.com Ms. Wright was present for the announcement along with other family members of prisoners, advocates and other allies. In February of 2000 CCR filed Wright v. Corrections Corporation of America, a nationwide class action lawsuit, seeking to enjoin, declare illegal, and recoup damages resulting from conspiracies between CCA and various telephone companies, including Evercom, Inc., MCI-Worldcom, Pioneer Telephone Corporation, AT&T, and Global Telecommunications Link, Inc. CCA operates 82 prisons and jails in 26 states pursuant to agreements with state and local governments under which persons under the jurisdiction and control of those governments are transferred to CCA facilities for incarceration. What went into DOJs decision? 07/28/2021. Sections 1 et seq., the Communications Act, 47 U.S.C. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. 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. PDF United States District Court Middle District of Tennessee Corrections Corrections Corporation of America | Levi & Korsinsky, LLP | Securities The outlook for CoreCivic and the private prison industry took a hit with the Biden administration in the White House. Bell, Esq.) The fact that CoreCivics stock eventually recovered was no defense to its alleged use of false statements and failure to disclose adverse information. As a digital subscriber to Prison Legal News, you can access full text and downloads for this and other premium content. 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. That included the likely discontinuation of its reliance upon private companies to run its facilities, as part of an effort to enact reforms that would ensure more proportional sentences and effective use of federal resources.. 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. What Is This Lawsuit About? Whether anything actually comes of that remains to be seen. Additional sources: usnews.com, tennessean.com. Corrado Rizzi is the Senior Managing Editor of ClassAction.org. See: Grae v. Corrections Corporation of America, USDC, C. Dist. Since then, Correction Corporation has been trading at less than $20 more or less the entire time, and the most recent price available for the stock was just $15.40 per share. Buckfire Law Wins Jail Death Trial Against Corizon Health's Employees Dec, 16 2022 Private prison company execs accused of downplaying detainee lawsuits Aug 26, 2022 On August 22, 2001, District Judge Gladys Kessler acknowledged the civil rights concerns but referred the case to the Federal Communications Commission, under the doctrine of primary jurisdiction. In short, the defendants profited from their unfair control over imprisoned people. 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. 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.

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