This Notice explains the class action lawsuit, the Settlement, Class Members' legal rights in connection with the Settlement, what benefits are available, who is eligible for them, and how to get them. 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. 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. 3:16-cv-02267. Please read this entire Notice carefully. The lawsuit captioned Grae v. Corrections Corporation of America, et al., Case No. the plaintiffs in the class action lawsuit moved to sever their case from the monetary claims. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com. 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. For more information on this case or other class action litigations, please contact Adam Foulke at 203-987-4949 or [email protected]. at (888) 299 - 7706 or at [email protected]. Join us on the front lines for social justice! 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. 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 . They also alleged that the agreements violate the Sherman Anti-Trust Act, 15 U.S.C. Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. Remember Or log in with Google Twitter Facebook Apple Sign up Check, Esq., D. Seamus Kaskela, Esq. The complaint in this action was not filed by Kessler Topaz Meltzer & Check. 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. Other reports continued the theme of high standards that governed the operation of CCAs federal facilities. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. 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. 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. 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. All rights reserved. Bell, Esq.280 King of Prussia RoadRadnor, PA 19087(888) 299 - 7706(610) 667 - [email protected], 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. CoreCivic, Inc. Reports Impairment of Real Estate Assets for the Fourth Quarter Ended D.. CoreCivic, Inc. Please download the PDF to view it: Download PDF. Kessler Topaz Meltzer & Check, LLPDarren J. 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). Get no payment. The mediation was preceded by submission of mediation statements by the Settling Parties. Read our Newswire Disclaimer. On Aug. 17, the day before the DOJ announcement, Correction Corporation was trading at just $27.22 per share. Camp Lejeune residents now have the opportunity to claim compensation for harm suffered from contaminated water. 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 class and CoreCivic agreed on April 15, 2021 to settle the lawsuit for $56 million, which includes attorney fees and costs. Copyright 2023 Surperformance. (M.D. The class specifically excluded CCA and CoreCivic officers named as defendants. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. Tenn.), Case No. 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. ) ) ) ) ) ) ) ) Civil Action No. Community Corrections E-Carceration 2. 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. They simply do not provide the same level of correctional services, programs, and resources, Yates said in making the announcement. 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.. Are you a current or former employee of Corrections Corporation of America (2016)? Frank Krogh, Doane Kiechel, and Jennifer Kostyu, Morrison & Forester LLP, Deborah Golden, D.C. Prisoners Project,Stephen Seliger and Laurie Elkin, Seliger & Elkin Ltd. Goldberg Law PC announces that a class action lawsuit has been filed against Corrections Corporation of America .. | February 6, 2023 . 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. This action is still ongoing. Tenn.) (the "Litigation"), you must complete and, on The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the. CoreCivic, Inc. Reports Impairment of Real Estate Assets for the Fourth Quarter Ended D.. CoreCivic, Inc. -, Transcript : CoreCivic, Inc., Q4 2022 Earnings Call, Feb 09, 2023, CoreCivic's Q4 Adjusted Earnings, Revenue Decline. 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. Consequently, the stock has dropped 56 percent from its year-to-date high, observed just a few months earlier. Levi & Korsinsky announces the commencement of a class action lawsuit in the USDC for the Middle District of Tennessee on behalf of shareholders of Corrections Corporation of America (NYSE: CXW) who purchased shares between February 27, 2012 and August 17, 2016.. Did you purchase shares of Corrections Corporation of America (2016) prior to the Class Period? He emphasized that CoreCivic believed the allegations in the lawsuit were without merit.. ClassAction.org is a group of online professionals (designers, developers and writers) with years of experience in the legal industry. The District Court later appointed Amalgamated Bank, as . or Adrienne O. You will not be charged for these lawyers. Sections 1 et seq., the Communications Act, 47 U.S.C. The complaint in this action was not filed by Kessler Topaz Meltzer & Check. The plaintiffs also alleged that the agreements violated the Sherman Anti-Trust Act, 15 U.S.C. 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. or Adrienne O. Join us on the front lines for social justice! At issue were allegedly materially false and misleading statements issued during the class period. Bell, Esq.) The Settlement, if approved, will result in the creation of a cash settlement fund of $56,000,000.00 (the Settlement Amount). 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. CORRECTIONS CORPORATION OF AMERICA, et al., Defendants. ) The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement (the "Stipulation") dated June 24, 2021, which can be found and downloaded by clicking on the Case Documents tab above. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Corrections Corp Of America (NYSE:CXW) Investor Securities Class Action Lawsuit 08/23/2016. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). Class Member. If Kessler Topaz, in its sole discretion, believes that
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. Kessler Topaz Meltzer & Check, LLP . 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. Case No. 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"). 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. The fact that CoreCivics stock eventually recovered was no defense to its alleged use of false statements and failure to disclose adverse information. | February 7, 2023 Advanced search Log in Forgot password ? 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"). 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. See: Grae v. Corrections Corporation of America, U.S.D.C. 666 Broadway What Is This Lawsuit About? Corrado Rizzi is the Senior Managing Editor of ClassAction.org. The petition sought restructuring of long distance inmate calling services to introduce competition. Civil Action No. Each of these contracts is subject to review by federal officials, but experts generally expect that few if any will be renewed. Radnor, PA 19087 Advanced search Log in. 3:16-cv-02267; 2019 U.S. Dist. On February 28, 2019, the Settling Parties participated in a voluntary confidential mediation with Gregory Lindstrom, Esq. 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. Check, Esq., D. Seamus Kaskela, Esq. Additional sources: usnews.com, tennessean.com. Bell, Esq.) Delayed Nyse Adrienne O. 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.. The class action suit has a class period of between Feb. 27, 2012, and Aug. 17, 2016. Notice of Proposed Settlement of Class Action. For two years, CCR participated in a mediation process with defendants and the Special Enforcement unit of the FCC as required. 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. 7th Floor [T]ime has shown the [private prisons] compare poorly to our own Bureau facilities. The law firm of Robbins Geller Rudman & Dowd LLP represents you and other Class Members. 3:16-cv-02267 (M.D. The FCC sought comments on petitioners alternative proposal in the spring of 2007, and supportive comments were filed with the FCC by many organizations, including the Ad Hoc Coalition for the Right to Communicate and the Sentencing Project. (M.D. As a digital subscriber to Prison Legal News, you can access full text and downloads for this and other premium content. More specifically, Plaintiff alleges that throughout the Class Period, Defendants engaged in a scheme to defraud and made materially false and misleading statements and/or failed to disclose adverse information regarding the Companys business and operations, which caused the price of the Companys securities to trade at artificially inflated prices, until the circumstances concealed by the alleged fraud were revealed and the Companys securities prices significantly declined. The only way to be eligible to receive a payment from the Settlement. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. See: Grae v. Corrections Corporation of America, USDC, C. Dist. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In this nationwide class action lawsuit, the Center for Constitutional Rights (CCR) sought 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 entered into a series of exclusive agreements with these telephone companies to provide inmate telephone service at various CCA-run prisons and jails. 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. submit will be maintained as confidential. In this lawsuit, plaintiffs alleged that unconscionable phone arrangements established by the Corrections Corporation of America and various telephone companies violated their constitutional rights.