The lawsuit captioned Grae v. Corrections Corporation of America, et al., Case No. 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. 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"). Remember Or log in with Google Twitter Facebook Apple Sign up 3:16-cv-02267 (the "Litigation"), pending before the United States District Court for the Middle District of Tennessee (the "Court"). This is the only option that. | February 7, 2023 Advanced search Log in Forgot password ? What Is This Lawsuit About? LEXIS 50444. KESSLER TOPAZ MELTZER & CHECK, LLP 2023 ALL RIGHTS RESERVED. See: Grae v. Corrections Corporation of America, USDC, C. Dist. 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. 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. 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.. The complaint alleges that the Company made false and/or misleading statements and/or failed to disclose: (a) that Corrections . Corrado Rizzi is the Senior Managing Editor of ClassAction.org. Layn R. Phillips (Ret.). 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. 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. CoreCivic, Inc. Reports Impairment of Real Estate Assets for the Fourth Quarter Ended D.. CoreCivic, Inc. The class action investors who filed the suit are primarily hedge funds, union pension funds and other institutional investors looking to turn a buck on mass incarceration. Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. 3:16-cv-02267 (the "Litigation"), pending before the United States District Court for the Middle District of Tennessee (the "Court"). 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. Seamus Kaskela, Esq.Adrienne O. IMPORTANT CORRECTIONS CORPORATION OF AMERICA SHAREHOLDER ALERT - Yahoo! 7th Floor The lawsuit looks to represent anyone residing in California whose account was involuntarily closed by Bank of America since February 27, 2019, resulting in the loss of their earned cash rewards on their Bank of America credit card. 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 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. Lawsuit for Investors in shares of Corrections Corp Of The effect on stock prices For more information, visit Battea's Corrections . Sections 1 et seq., the Communications Act, 47 U.S.C. 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. 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. 666 Broadway Advanced search Log in. 3:16-cv-02267; 2019 U.S. Dist. Please complete this form and list your purchase and sale transaction(s) for Corrections Corporation of America (NYSE: CXW) between February 27, 2012 and August 17, 2016, inclusive (the Class Period): You may also contact Jon Naji, Esq. 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. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. 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. As a digital subscriber to Prison Legal News, you can access full text and downloads for this and other premium content. The Federal Communications Commission (FCC) finally approves new rules capping prison phone rates, ten years after Martha Wright filed her petition. But the court agreed with Amalgamated that the OIG report did not address the scope of the problems. securities between February 27, 2012 and August 17, 2016, inclusive, and who were damaged thereby. You will still be a Member of the Class. Expert depositions are scheduled to conclude on October 30, 2020. For two years, CCR participated in a mediation process with defendants and the Special Enforcement unit of the FCC as required. A 2012 report noted that 40-43% of CCAs revenue was derived from contracts with the federal government through operation of prisons and detention centers. No settlement was reached however, and on October 31, 2003, CCR filed a petition for rulemaking with the FCC. 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. The contract prisons are operated by three private corporations, including Corrections Corporation of America. 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. /PRNewswire/ -- Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in United States District Court for the Middle District of Tennessee. at (888) 299 7706 or at [emailprotected]. The Settling Parties engaged in good faith negotiations, but did not reach a settlement. CORRECTING and REPLACING - Business Wire Any information you Title. On August 23, 2016, an action captioned , Grae v. Corrections Corporation of America, et al. $56 Million Settlement in CoreCivic Securities Violation Lawsuit Case: Kelly v. Corrections Corporation of America - Clearinghouse Filed Date: April 27, 2011 Closed Date: May 23, 2016 Clearinghouse coding complete . Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and Stipulation, both of which can be found and downloaded by clicking on the Case Documents tab above. The case is currently in discovery. (888) 299-7706 Bell, Esq.) Wedbush Upgrades CoreCivic to Outperform From Neutral, Adds Stock to Best Ideas List, A.. . The district court found that Amalgamated had met the requirements of numerosity, commonality, typicality and adequacy of representation for class certification. . On some level it seems as though Wall Street had expected a downturn to come in this regard. Copyright 2023 Surperformance. This was also true for its rehabilitative services in comparison with those provided by the BOP. The Settling Parties engaged in arms-length negotiations during the mediation session, but were unable to reach an agreement. Corrections Corporation of America Securities Fraud Class Action | New Cases | Kessler Topaz Submit your Information Please complete this form and list your purchase and sale transaction (s) for Corrections Corporation of America (NYSE: CXW) between February 27, 2012 and August 17, 2016, inclusive (the "Class Period"): Following Yates announcement, CCAs stock fell $9.65, or 39.45%, to close at $17.57 on August 18, 2016, the complaint alleged. 3:16-cv-02267; 2019 U.S. Dist. The statements at issue here, however, frequently went beyond generic puffery to claims that their services were of a high quality, specifically, in the eyes of their government clients.. 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 part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Copyright 2023 Surperformance. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. They simply do not provide the same level of correctional services, programs, and resources, Yates said in making the announcement. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. 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. Kessler Topaz Meltzer & Check, LLPDarren J. Join us on the front lines for social justice! 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. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the. or Adrienne O. Kessler Topaz Meltzer & Check, LLP 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 . 280 King of Prussia Road 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. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. -, Transcript : CoreCivic, Inc., Q4 2022 Earnings Call, Feb 09, 2023, CoreCivic's Q4 Adjusted Earnings, Revenue Decline. CCA shareholders may, no 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"). Therefore, class-action status was granted. Donations: 212-614-6448 Before commenting, please review our comment policy. New York, NY 10012, Main: 212-614-6464 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. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. Last week . 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. RADNOR, PA / ACCESSWIRE / August 29, 2016 / The law firm of Kessler Topaz Meltzer & Check, LLP alerts Corrections Corporation of America (NYSE: CXW) ("CCA" or the "Company") shareholders that a class action lawsuit has been filed in the Middle District of Tennessee on behalf of purchasers of the Company's securities between February The banks lawsuit essentially claims that CoreCivic officials made numerous statements about how well the company was fulfilling its contracts with the federal government and how happy their clients were with CoreCivics performance when, in fact, the companys facilities were receiving poor marks on audits and its executives were exchanging emails about how bad the situation was and how the contracts were in danger. (484) 270-1453; or via e-mail at info@ktmc.com. 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). District Judge Gladys Kessler acknowledged the civil rights concerns, but referred the case to the Federal Communications Commission, under the doctrine of primary jurisdiction. The complaint in this action was not filed by Kessler Topaz Meltzer & Check. 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. RADNOR, PA / ACCESSWIRE / August 29, 2016 / The law firm of Kessler Topaz Meltzer & Check, LLP alerts Corrections Corporation of America shareholders that a class action lawsuit has been filed. 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. Join us on the front lines for social justice! 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. Bell, Esq. 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. 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 complaint in this action was not filed by Kessler Topaz Meltzer & Check. It owns and operates prisons and jails, including immigration jails and "community corrections" centers, and uses forced prison labor. 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. (610) 667-7706 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. Adrienne O. Corrections Corp Of America : Class Action Lawsuit Filed Against 3:16-cv-02267, has been certified by the District Court as a class action; and Amalgamated Bank, as Trustee for . 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. TN, Case No. 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. 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, http://www.prnewswire.com/news-releases/shareholder-class-action-filed-against-corrections-corporation-of-america--cxw-300317822.html, CoreCivic Reports Fourth Quarter and Full Year 2022 Financial Results. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. 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. They also alleged that the agreements violate the Sherman Anti-Trust Act, 15 U.S.C. CCR and its partners filed an alternative rulemaking proposal requesting 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. Date Filed. Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. Receive no payment. For more information on this case or other class action litigations, please contact Adam Foulke at 203-987-4949 or info@battea.com. Fax: 212-614-6499. Bell, Esq.) The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). 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. The District Court later appointed Amalgamated Bank, as . Consequently, the stock has dropped 56 percent from its year-to-date high, observed just a few months earlier. 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. 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. the matter and whether to establish an attorney client relationship. The outlook for CoreCivic and the private prison industry took a hit with the Biden administration in the White House. Corrections Corporation of America Has Long History of Wage Violations, Poor Treatment of Employees. The class action suit has a class period of between Feb. 27, 2012, and Aug. 17, 2016. Share New York, NY 10012, Main: 212-614-6464 For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. [See: PLN, Oct. 2018, p.30; Oct. 2016, p.22]. GLOBALLY RECOGNIZED ROSEN LAW FIRM Encourages Credit Acceptance Corrections Corp Of America (NYSE:CXW) Investor Securities Class Action Lawsuit 08/23/2016. 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 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.
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