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. 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. at (888) 299 7706 or at [emailprotected]. Wedbush Upgrades CoreCivic to Outperform From Neutral, Adds Stock to Best Ideas List, A.. Senior VP-Federal & Local Customer Relations, Chief Financial Officer & Executive Vice President, Chief Information Officer & VP-Technology, Chief Operating Officer & Executive Vice President. 3:16-cv-02267. Date Filed. (M.D. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Please download the PDF to view it: Download PDF. Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. . The class and CoreCivic agreed on April 15, 2021 to settle the lawsuit for $56 million, which includes attorney fees and costs. The law firm of Robbins Geller Rudman & Dowd LLP represents you and other Class Members. Civil Action No. 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. 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. Fax: 212-614-6499. The only way to be eligible to receive a payment from the Settlement. 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. Filed Date: April 27, 2011 Closed Date: May 23, 2016 Clearinghouse coding complete . Security. | February 7, 2023 Advanced search Log in Forgot password ? Frank Krogh, Doane Kiechel, and Jennifer Kostyu, Morrison & Forester LLP, Deborah Golden, D.C. Prisoners Project,Stephen Seliger and Laurie Elkin, Seliger & Elkin Ltd. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. 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. -, Transcript : CoreCivic, Inc., Q4 2022 Earnings Call, Feb 09, 2023, CoreCivic's Q4 Adjusted Earnings, Revenue Decline. 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 Copyright 2023 Surperformance. Seamus Kaskela, Esq.Adrienne O. Prior to this session, the Settling Parties provided to Mr. Lindstrom and exchanged supplemental mediation materials. If Kessler Topaz, in its sole discretion, believes that 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. CoreCivic, Inc. Reports Impairment of Real Estate Assets for the Fourth Quarter Ended D.. CoreCivic, Inc. CoreCivic, Inc. Reports Impairment of Real Estate Assets for the Fourth Quarter Ended D.. CoreCivic, Inc. Wedbush Upgrades CoreCivic to Outperform From Neutral, Adds Stock to Best Ideas List, A.. 08/23/2016. 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.. Did you purchase shares of Corrections Corporation of America (2016) prior to the Class Period? Defendants deny each and all of Plaintiffs allegations. 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). Join us on the front lines for social justice! On Aug. 18, U.S. Deputy Attorney General Sally Yates made the announcement that, based on a number of factors, the DOG would put a number of reforms into place to ensure a more effective federal prison system, according to investment news site The Motley Fool. Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. 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. 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.. 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"). 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. PLN printISSN: 10757678 |PLN online ISSN: 2577-8803, Corrections Corporation of America/CoreCivic, Former Prisoner Becomes California Coffee Entrepreneur, Motions to Dismiss by Corizon and Wexford Denied in Lawsuit Over Florida Prisoners Double Leg Amputation, Fifth Circuit Reinstates Texas Prisoners Excessive Force Claims, Michigan: Settlement in Class-Action Suit by Prisoners with Hearing Disabilities, Montana Parolee Sues CoreCivic Over Prison Assault, Brain Injury, Sheriff, Undersheriff and Deputies Resign Over Safety Issues at Oklahoma Jail, Texas Prisoner Sues Former Guards for Planting Screwdrivers in His Cell, $3 Million Settlement Where Prison Doctor Failed to Treat Disabled Illinois Prisoner, Florida: No Qualified Immunity for Jail Medical Staff in Prisoners Death, Texas Prisoners Lawsuit Over Reaction to Prison Blankets Moves Forward, Federal Government Pays Nation of Islam to Teach BOP Prisoners, Florida Prisons and Jails Retaliate Against Prisoners Who File Lawsuits by Countersuing for Costs of Incarceration, Study Finds More Private Prisons Result in Judges Imposing Slightly Longer Sentences, New Jersey Federal Court Approves $1.5 Million Jail Strip-Search Settlement, Minnesota Prisoners Win Access to New Hepatitis C Medications, Maine: Prosecutorial Misconduct in False Rape Case Results in $2.1 Million in Damages, Michigan Prisoner Dies from Cocaine Overdose, Sergeant and Paramedics Charged, $3.75 Million Settlement, Texas Bans All Clergy from Death Chamber after Supreme Court Stays Execution, Arrestee Dies in a Jail with No Medical Staff; Eleventh Circuit Reverses Dismissal, Scammers Deprive Prisoners with Legitimate Substance Abuse Problems of BOP Drug Treatment, New Bill Restricts Use of Solitary Confinement in New Mexico, Interim Attorney Fees Awarded in Kentucky Good Time Lawsuit, More States on Track to Restore Voting Rights to Felons, but Not Without Hurdles, Mentally Ill Texas Woman Ignored to Death After Five Months in Jail, Pennsylvania Prisoners Cigarette Stashes to Go Up in Smoke, Monterey County, California Pays $365,000 for Jail Prisoners Death, Former Louisiana Warden Nate Cain, Son of Infamous Burl Cain, Pleads Guilty, Minnesota Sheriff Hit with Attorney Fees Award in Civil Rights Case, End of Gubernatorial Terms Bring Pardons, Commutations, Federal Judge Holds Bivens Not Applicable to Prison Workplace Discrimination Claims, Michigan: $40,000 Settlement for Parole Violation Sanctions Absent Due Process, Eighth Circuit Reinstates Iowa Prisoners Retaliation Claims, Mississippi Prison Industry Program Faltering, CEO Fired, Nevada: Jail Death Due to Excessive Force Leads to $175,000 in Settlements, Ninth Circuit Issues Ruling on Arizona DOC Stipulated Settlement, California: Denial of Bed During Jail Disturbances Not a Constitutional Violation, $115,000 Settlement after Nebraska Prison Nurses Ignore Prisoners Heart Attack, Tennessee: Federal Court Grants Class-Action Status in Shareholder Suit Against CoreCivic, Fifth Circuit Holds Transgender Prisoner Not Entitled to Sex Reassignment Surgery, Native American Prisoners Win Lawsuit Over Right to Wear Long Hair, Game of Kings Has Large Following, Long History Behind Bars, D.C. Court Awards $501 Million in Suit Against North Korea for Torture-Death of Prisoner, Fourth Circuit Reverses Dismissal of South Carolina Prisoners Suit Over Safekeeper Status, Some Prisons Are Using Virtual Reality for Reentry and Other Programs, New Study Finds Mass Incarceration Impacts Over Half of U.S. The lawsuit captioned Grae v. Corrections Corporation of America, et al., Case No. 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 . Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Check, Esq. or Adrienne O. 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. Tenn.), Case No. Tenn.) (the "Litigation"), you must complete and, on Share Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. 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. D. Seamus Kaskela, Esq. Lawsuit Filed, Settlement Proposed, Settlement Approved. Following the second in-person mediation, the Settling Parties continued settlement discussions through Mr. Lindstrom and Hon. 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. The district court found that Amalgamated had met the requirements of numerosity, commonality, typicality and adequacy of representation for class certification.
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