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. On February 28, 2019, the Settling Parties participated in a voluntary confidential mediation with Gregory Lindstrom, Esq. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. 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. Delayed Nyse Fax: 212-614-6499, CCR filed a petition for rulemaking with the FCC. This settlement will help ensure they dont lose money betting on the business of caging people for profit. Community Corrections E-Carceration The complaint in this action was not filed by Kessler Topaz Meltzer & Check. The law firm of Robbins Geller Rudman & Dowd LLP represents you and other Class Members. 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. CoreCivic, Inc., formerly Corrections Corporation of America, is the defendant proposed class action filed over alleged human trafficking and labor law violations. [email protected], SOURCE: Kessler Topaz Meltzer & Check, LLP. Sections 151 et seq., and other laws of the District of Columbia. 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 outlook for CoreCivic and the private prison industry took a hit with the Biden administration in the White House.
corrections corporation of america class action lawsuit