CoreCivic, Inc. Reports Impairment of Real Estate Assets for the Fourth Quarter Ended D.. CoreCivic, Inc. The petition sought restructuring of long distance inmate calling services to introduce competition. Join us on the front lines for social justice! Tennessee: Federal Court Grants Class-Action Status in Shareholder Suit The class specifically excluded CCA and CoreCivic officers named as defendants. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. 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. the plaintiffs in the class action lawsuit moved to sever their case from the monetary claims. On some level it seems as though Wall Street had expected a downturn to come in this regard. In short, the defendants profited from their unfair control over imprisoned people. At its core, the lawsuit takes issue with the entire for-profit detention system into which many undocumented immigrants are thrown into to face removal proceedings. Shares of Corrections Corp Of America (NYSE:CXW) declined from $27.38 per share to . The lawsuit captioned Grae v. Corrections Corporation of America, et al., Case No. 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. 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. D. Seamus Kaskela, Esq. GLOBALLY RECOGNIZED ROSEN LAW FIRM Encourages Credit Acceptance 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. The suits allege that the drug is defective and unreasonably dangerous and was not adequately labeled to warn both patients and doctors of its risks. Corrections Corporation of America/CoreCivic, Rural Prisons . the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Bell, Esq.) 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. 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. 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. CoreCivic shareholders granted class action status in fraud lawsuit Corrections Corporation of America Securities Fraud Class Action | New 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. Securities class action suit brought against Corrections Corporation of (888) 299-7706 27, 2012 and August 17, 2016, inclusive (the "Class Period"). Please read this entire Notice carefully. Remember Or log in with Google Twitter Facebook Apple Sign up At issue were allegedly materially false and misleading statements issued during the class period. By Aug. 1, it was down to a little more than $32.50, then the downturn started picking up more speed. 3:16-cv-02267 (the "Litigation"), pending before the United States District Court for the Middle District of Tennessee (the "Court"). 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 complaint in this action was not filed by Kessler Topaz Meltzer & Check. Martha Wright v. Corrections Corporation of America The complaint in this action was not filed by Kessler Topaz Meltzer & Check. For two years, CCR participated in a mediation process with defendants and the Special Enforcement unit of the FCC as required. CCA has history of wage violations, poor treatment of employees Delayed Nyse As more fully described in the Notice of Proposed Settlement of Class Action(the "Notice"), the initial complaint in this action was filed on August 23, 2016. The Trump administration reversed course on the end of private prison contracts from the government. 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. Detainees who were paid small wages for their work, the case alleges, were only allowed to spend these funds at CoreCivics commissary. Share 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. Following the second in-person mediation, the Settling Parties continued settlement discussions through Mr. Lindstrom and Hon. But the court agreed with Amalgamated that the OIG report did not address the scope of the problems. 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. 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 outlook for CoreCivic and the private prison industry took a hit with the Biden administration in the White House. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. 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. 3:16-cv-02267 (the "Litigation"), pending before the United States District Court for the Middle District of Tennessee (the "Court"). 07/28/2021. 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. 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. For more information on this case or other class action litigations, please contact Adam Foulke at 203-987-4949 or info@battea.com. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. 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. The Stipulation (together with the Exhibits thereto) reflects the final and binding agreement between the Settling Parties. 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. 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. Tenn.), Case No. Donations: 212-614-6448 On Aug. 17, the day before the DOJ announcement, Correction Corporation was trading at just $27.22 per share. ClassAction.org is a group of online professionals (designers, developers and writers) with years of experience in the legal industry. Expert depositions are scheduled to conclude on October 30, 2020. 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. Frank Krogh, Doane Kiechel, and Jennifer Kostyu, Morrison & Forester LLP, Deborah Golden, D.C. Prisoners Project,Stephen Seliger and Laurie Elkin, Seliger & Elkin Ltd. Donations: 212-614-6448 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. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. In March of 2007, CCR and its partners filed an alternative rulemaking proposal. District Judge Gladys Kessler acknowledged the civil rights concerns, but referred the case to the Federal Communications Commission, under the doctrine of primary jurisdiction. Sections 1 et seq., the Communications Act, 47 U.S.C. The lawsuits two lead plaintiffs, former civil immigration detainees who were incarcerated and worked at the defendants 1,492-bed Otay Mesa Detention Center in California, alleges CoreCivic illegally forces and/or coerces detainees to clean, maintain and operate its detention facilities. CCA shareholders may, no 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. Date Filed. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. the matter and whether to establish an attorney client relationship. By signing this form you are Bell, Esq. Please download the PDF to view it: Download PDF. The suit was filed in August 2016 against defendants CoreCivic and four of its executives CEO Damon T. Hininger, CFO David M. Garfinkle, Todd J. Mullenger and board member and former federal Bureau of Prisons director Harley G. Lappin. 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. Class Action Suit Claims CoreCivic Violates Human Trafficking, Labor Laws 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. He emphasized that CoreCivic believed the allegations in the lawsuit were without merit.. Tenth Circuit Revives Suit Against Colorado Jail Guard in Death of Mentally Disabled Detainee, Nov. 30, 2022. 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. These exclusive dealing agreements resulted in the same civil rights violations as have been alleged in CCRs other two prison telephone cases. It also provides e-carceration technologies, transportation, and other services as part of the criminal punishment system. (M.D. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. at (888) 299-7706 or at info@ktmc.com. 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. 7th Floor 3:16-cv-02267 Honorable Aleta A. Trauger PROOF OF CLAIM AND RELEASE I. Sections 151 et seq., and other laws of the District of Columbia. Check, Esq.D. New York, NY 10012, Main: 212-614-6464 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. This action is still ongoing. 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. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Adrienne O. PDF Notice of Pendency of Class Action To: All Persons Who Purchased or 3:16-cv-02267; 2019 U.S. Dist. 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