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. If so, this lawsuit will affect your legal rights. 3:16-cv-02267 (M.D. Check, Esq., D. Seamus Kaskela, Esq. On May 26, 2019, the Court certified the Class consisting of all persons who purchased or otherwise acquired Corrections Corporation of America. Corrections Corp Of America (NYSE:CXW) Investor Securities Class Action Lawsuit 08/23/2016. Check, Esq.D. On August 23, 2016, an action captioned , Grae v. Corrections Corporation of America, et al. To recover as a Member of the Class based on your claims in the action entitled Grae v. Corrections Corporation of America, et al., Civil Action No. CORRECTIONS CORPORATION OF AMERICA, et al., Defendants. ) Get class action lawsuit news sent to your inbox - sign up for ClassAction.org's free weekly newsletter here. 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., 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"). CCA specifically listed the ACA, The Joint Commission, the National Commission on Correctional Healthcare, the Occupational Safety and Health Administration, federal, starts, and local government codes and regulations, established correctional procedures, and company-wide policies and procedures that may exceed those guidelines that it met or exceeded. CoreCivic, Inc. Reports Impairment of Real Estate Assets for the Fourth Quarter Ended D.. CoreCivic, Inc. 3:16-cv-02267, has been certified by the District Court as a class action; and Amalgamated Bank, as Trustee for . Whether anything actually comes of that remains to be seen. They simply do not provide the same level of correctional services, programs, and resources, Yates said in making the announcement. 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. The complaint in this action was not filed by Kessler Topaz Meltzer & Check. CCA shareholders may, no Date Filed. or Adrienne O. (484) 270-1453; or via e-mail at info@ktmc.com. The class specifically excluded CCA and CoreCivic officers named as defendants. | November 22, 2022 the plaintiffs in the class action lawsuit moved to sever their case from the monetary claims. Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. 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. The civil complaint cited statements made in Annual Reports CCA filed with the Securities and Exchange Commission. 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. 3:16-cv-02267, has been certified by the District Court as a class action; and Amalgamated Bank, as Trustee for . 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. 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. Following Yates announcement, CCAs stock fell $9.65, or 39.45%, to close at $17.57 on August 18, 2016, the complaint alleged. 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. On August 9, 2013, the Federal Communications Commission (FCC) finally approved new rules capping prison phone rates, ten years after Martha Wright filed her petition. 280 King of Prussia Road 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. The district court found that Amalgamated had met the requirements of numerosity, commonality, typicality and adequacy of representation for class certification. Donations: 212-614-6448 Seamus Kaskela, Esq.Adrienne O. 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. Copyright 2023 Surperformance. 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 Finally, this claim also takes into account the recent decision by the U.S. Department of Justice not to renew or extend its contracts with private corrections companies, which sent Corrections Corporations stock plummeting in mid-August. For more information, visit Battea's Corrections . On Aug. 17, the day before the DOJ announcement, Correction Corporation was trading at just $27.22 per share. Read our Newswire Disclaimer. 666 Broadway 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. 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"): New to ClassAction.org? LEXIS 50444. The States that Lead the Nation in COVID-19 Cases Are Hiding Their Prison Data, Court Grants Class Certification for Illinois Prisoners in Restrictive Housing Lawsuit, Eighth Circuit Reverses Dismissal of HRDC Postcard-Only Suit Against Arkansas Jail, South Carolina Attorney General Issues Opinion That Information in State Prisoners Death Certificates Is Public Information, HRDC Case Sues JPay Over Fee-Heavy Release Card Debit Cards, Eleventh Circuit Holds No Qualified Immunity on Deliberate Indifference in Heat Exhaustion Case, Colorado Jail Blows Through $16 Million in COVID Relief Money, Has Outbreak Anyway, Settles ACLU Conditions Suit, Tennessee Department of Corrections Rebids $123 Million Health Care Contract After Corizon Accuses It and Centurion of Bid Rigging, Death, Neglect and Despair in U.S. Tribal Jails, Study Analyzes Deaths of Parole-Approved Texas Prisoners Awaiting Release, File a CFPB Complaint for Unfair Money Transfer Fees, Hunger Strike, Ceiling Collapse, Lawsuit Spotlight Deteriorating Conditions at Womens Prison in Illinois, Sacramento Sheriff Used Prisoner Welfare Fund for Trips, Salaries and Equipment, Fourth Circuit Rules Prisoner Sex Offender has No Right to In-Person Visitation with His Minor Children, Virginia Department of Corrections Confirms Visitation Not Primary Means of Contraband Introduction, Seven Former GEO Employees Plead Guilty in Federal Texas Private Jail Bribery Scheme, Indiana DOC Settles Class-Action Lawsuit Over Ban on Incoming Mail Except That in White Envelopes Using White, Lined Paper, Supreme Court Reverses Qualified Immunity Dismissal of Texas Prisoners Excessive Force Claim, Local Pennsylvania Voters Ban Solitary Confinement and No-Knock Warrants, Absent Expert Medical Testimony, Deliberate Indifference Tough to Prove in Medical Cases, Erie County Sheriff Settles AG Lawsuit for Violating New York Reporting Directives, California Slashes High Call Rates in Prisons and Jails, Mailbox Rule Inapplicable to Prisoners Represented by Counsel, Federal New York City Jail Made Infamous by Jeffrey Epstein Death Closed Due to Persistent Problems and Incompetence, New Connecticut Law Eliminates Prison Gerrymandering, $56 Million Settlement in CoreCivic Securities Violation Lawsuit, Judge Orders COVID Emergency Release Procedures at Lompoc Federal Prison, Eleventh Circuit Grants Prisoner with Hep C Exception to PLRA Three Strikes Rule, Washington DC Jails Suicide Proof Safe Cell Use Not Safe for Prisoners, Iowa County Wants to Use COVID-19 Relief Money to Build New Jail, $1 Million Settlement in Georgia Prisoners Preventable Suicide Attempt and Death, Immigration Detention Contracts Cancelled in Georgia and Massachusetts, $500,000 Settlement for California Jail Rape, Deputy Fired and Sentenced, Pay-to-Play Lives in FEC Decision Not to Enforce Ban on Political Contributions by Boca Prison Contractor The GEO Group, Ninth Circuit Says Statements Relayed at Criminal Trial By Nurse and Doctor Are Admissible, Not Hearsay, Fourth Circuit Reinstates Virginia Prisoners Spoliation Motion for Lost Video of His Alleged Assault by Guards, Seventh Circuit: Indiana Prisoner Who Failed to Formalize Grievance Also Failed to Exhaust Remedies, Record Deaths at Rikers Island Blamed on Guards Absenteeism, Abuse and Corruption, Third Circuit Strips Qualified Immunity From Delaware Guards Who Held Mentally Ill Prisoner in Solitary for Seven Months, Ninth Circuit Revives Failure-to-Protect Claim of Arizona Prisoner Beaten by Gang, Florida Jailers Leave Detainees Out of Evacuation Plans During Hurricane, Nevada Federal Court Says Prisoners 1983 Suit Shouldve Been a Habeas Petition, But Returns Filing Fee, Seventh Circuit Trims What Indiana Prisoner Owes Jail Doctor in Lost Lawsuit, Under New Mississippi Law, State Chooses Execution Method, $959,000 Paid by Pennsylvania County in Deaths of Two Detainees, Plus at Least $750,000 from PrimeCare, $20,000 Paid by Centurion and MHM Health Professionals to Arizona Prisoner for Alleged Deliberate Indifference and Medical Negligence, After Federal Judge Censors Lawyers Tweets About CoreCivic, Company Settles Suit Over Tennessee Prisoners Murder by Cellmate, Former Texas Prisoner Wins 12-Year Fight for Justice, $480,000 Paid by California County to Detainee Whose Newborn Died After Guards Stopped at Starbucks en Route to Hospital, $98,000 Paid by BOP to Immigrant Detainees Racially Profiled as Terrorists in New York City Lockup, $300,000 Paid by Colorado to Prisoner Sexually Harassed by Guard with Foot Fetish, Award Slashed for Delaware Prisoner Sexually Groped by Guard, Former Judges in Pennsylvania Kids for Cash Scandal Must Pay $206 Million in Damages. For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com. This action is still ongoing. 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.. Defendants deny each and all of Plaintiffs allegations. 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. 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. Adrienne O. 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). Sections 151 et seq., and other laws of the District of Columbia. Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. The court granted their motion on April 27, 2011 and allowed the . Wedbush Cuts Price Target on CoreCivic to $15 From $17, Citing Cash Flow Forecasts, Kee.. Wells Fargo Upgrades CoreCivic to Outperform from Neutral, Sets $17 Price Target. All rights reserved. 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. Prison Staff Are Refusing Vaccines. For more information on this case or other class action litigations, please contact Adam Foulke at 203-987-4949 or info@battea.com. 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 . Goldberg Law PC announces that a class action lawsuit has been filed against Corrections Corporation of America .. | February 6, 2023. Wright v. Corrections Corporation of America. The Settlement, if approved, will result in the creation of a cash settlement fund of $56,000,000.00 (the Settlement Amount). Sections 1 et seq., the Communications Act, 47 U.S.C. The Federal Communications Commission (FCC) finally approves new rules capping prison phone rates, ten years after Martha Wright filed her petition. 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, LLP 2023 ALL RIGHTS RESERVED. Its alleged that because the company did not reveal these issues to investors, it materially misled them and caused significant financial harm when the stock price dropped sharply. 3:16-cv-02267; 2019 U.S. Dist. 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 also boasted that, as of December 10, 2010, the American Correctional Association (ACA), an independent organization of corrections industry professionals that establishes standards by which a correctional facility may gain accreditation, had accredited 85% of its facilities. securities between February 27, 2012 and August 17, 2016, inclusive, and who were damaged thereby. The agreement included, among other things, the Settling Parties agreement to settle the Litigation in return for a cash payment of $56,000,000 for the benefit of the Class, subject to the negotiation of the terms of a Stipulation of Settlement and approval by the Court. For more information, visit Batteas Corrections Corporation of America case summary. from 8 AM - 9 PM ET. D. Seamus Kaskela, Esq. Join us on the front lines for social justice! February 6, 2023. Camp Lejeune residents now have the opportunity to claim compensation for harm suffered from contaminated water. Class Member. 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. 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. Get no payment. CoreCivic and its executives, as might be expected, typically portrayed its services in a positive light to shareholders, the district court wrote. of Phillips ADR, an experienced mediator. Bell, Esq.) 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. . For two years, CCR participated in a mediation process with defendants and the Special Enforcement unit of the FCC as required. 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. Status. 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. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. Shareholders who have incurred losses in Corrections Corporation of America securities are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.. 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. Copyright 2023 Surperformance. The outlook for CoreCivic and the private prison industry took a hit with the Biden administration in the White House. Read more here: Camp Lejeune Lawsuit Claims. -, Transcript : CoreCivic, Inc., Q4 2022 Earnings Call, Feb 09, 2023, CoreCivic's Q4 Adjusted Earnings, Revenue Decline. 3:16-cv-02267 Honorable Aleta A. Trauger PROOF OF CLAIM AND RELEASE I. 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. For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com. (M.D. 3:16-cv-02267 (the "Litigation"), pending before the United States District Court for the Middle District of Tennessee (the "Court"). For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. Corrections Corporation of America 1:11-cv-00185 | U.S. District Court for the District of Idaho. CoreCivic, Inc. Reports Impairment of Real Estate Assets for the Fourth Quarter Ended D.. CoreCivic, Inc. Last week . A shareholder class-action lawsuit was filed Wednesday against Corrections Corporation of America, a private prison company that was the subject of a recent Mother Jones investigation. Goldberg Law PC announces that a class action lawsuit has been filed against Corrections Corporation of America .. | February 6, 2023 . . The plaintiffs also alleged that the agreements violated the Sherman Anti-Trust Act, 15 U.S.C. Before commenting, please review our comment policy. 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. | February 7, 2023 Advanced search Log in Forgot password ? 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. The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the. The petition sought restructuring of long distance inmate calling services to introduce competition. 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. What Is This Lawsuit About? Other reports continued the theme of high standards that governed the operation of CCAs federal facilities. 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. Incarcerated People Are Paying the Price. Corrections Corporation of America/CoreCivic, Rural Prisons . The fact that CoreCivics stock eventually recovered was no defense to its alleged use of false statements and failure to disclose adverse information. Seamus Kaskela, Esq.Adrienne O. The Settling Parties engaged in good faith negotiations, but did not reach a settlement. 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. ) ) ) ) ) ) ) ) Civil Action No. Ordering the federal officials to not renew private prison contracts was one of the first acts President Biden made upon taking office. Please read this entire Notice carefully. or Adrienne O. 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. ClassAction.org is a group of online professionals (designers, developers and writers) with years of experience in the legal industry. /PRNewswire/ -- Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in United States District Court for the Middle District of Tennessee. On February 28, 2019, the Settling Parties participated in a voluntary confidential mediation with Gregory Lindstrom, Esq. (610) 667-7706 Advanced search Log in. Detainees who were paid small wages for their work, the case alleges, were only allowed to spend these funds at CoreCivics commissary. Check, Esq.D. Prior to this session, the Settling Parties provided to Mr. Lindstrom and exchanged supplemental mediation materials. Tenth Circuit Revives Suit Against Colorado Jail Guard in Death of Mentally Disabled Detainee, Nov. 30, 2022. Expert depositions are scheduled to conclude on October 30, 2020. The lawsuit captioned Grae v. Corrections Corporation of America, et al., Case No. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. 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"). 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. Lawsuits are now being filed on behalf of Elmiron patients who suffered permanent retinal injuries and seek to recover money for physical and mental anguish, medical expenses and more. Community Corrections E-Carceration 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. The court wrote that the fundamental question was, Did a statement matter? A successful plaintiff must show the misleading statements or failure to disclose was material to a negative stock price impact that caused the loss, but those were issues for trial, not for certifying a class. 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. Following the second in-person mediation, the Settling Parties continued settlement discussions through Mr. Lindstrom and Hon. Receive no payment. Bell, Esq. 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. Security. -, Transcript : CoreCivic, Inc., Q4 2022 Earnings Call, Feb 09, 2023, CoreCivic's Q4 Adjusted Earnings, Revenue Decline. Ms. Wright was present for the announcement along with other family members of prisoners, advocates and other allies. Amalgamated alleged it alone lost $1.2 million when CoreCivics stock price fell sharply after an August 18, 2016 memorandum by then-Deputy U.S. Attorney General Sally Q. Yates directed the federal Bureau of Prisons (BOP) to phase out private prison contracts a directive later reversed by the Trump administration. Lawsuit Filed, Settlement Proposed, Settlement Approved. LEXIS 50444. You will, however, still be a Member of the Class, which means that you give up your right to ever be part of any other lawsuit against the Defendants or any other Released Defendant Parties about the legal claims being resolved by this Settlement and you will be bound by any judgments or orders entered by the Court in the Litigation.

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