Bell, Esq.) at (484) 270-1453; or you may submit your information via email at info@ktmc.com, or you may click here to print a PDF of this form. Sections 151 et seq., and other laws of the District of Columbia. Filed Date: April 27, 2011 Closed Date: May 23, 2016 Clearinghouse coding complete . 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.. 3:16-cv-02267 (the "Litigation"), pending before the United States District Court for the Middle District of Tennessee (the "Court"). [See: PLN, Oct. 2018, p.30; Oct. 2016, p.22]. Each of these contracts is subject to review by federal officials, but experts generally expect that few if any will be renewed. Please read this entire Notice carefully. No settlement was reached however, and on October 31, 2003, CCR filed a petition for rulemaking with the FCC. 280 King of Prussia Road 3:16-cv-02267 Honorable Aleta A. Trauger PROOF OF CLAIM AND RELEASE I. Wedbush Upgrades CoreCivic to Outperform From Neutral, Adds Stock to Best Ideas List, A.. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. The law firm of Robbins Geller Rudman & Dowd LLP represents you and other Class Members. Tenn.), Case No. The plaintiffs also alleged that the agreements violated the Sherman Anti-Trust Act, 15 U.S.C. Lawsuit Filed, Settlement Proposed, Settlement Approved. Corrections Corporation of America 1:11-cv-00185 | U.S. District Court for the District of Idaho. info@ktmc.com, SOURCE: Kessler Topaz Meltzer & Check, LLP. 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. Ms. Wright was present for the announcement along with other family members of prisoners, advocates and other allies. 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. 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 . In short, the defendants profited from their unfair control over imprisoned people. The court granted their motion on April 27, 2011 and allowed the . He emphasized that CoreCivic believed the allegations in the lawsuit were without merit.. 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. CoreCivic, Inc. Reports Impairment of Real Estate Assets for the Fourth Quarter Ended D.. CoreCivic, Inc. The contract prisons are operated by three private corporations, including Corrections Corporation of America. The mediation was preceded by submission of mediation statements by the Settling Parties. 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. 3:16-cv-02267, was filed in the District Court. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. CCR filed a petition for rulemaking with the FCC. Prior to this session, the Settling Parties provided to Mr. Lindstrom and exchanged supplemental mediation materials. Seamus Kaskela, Esq.Adrienne O. Defendants deny each and all of Plaintiffs allegations. 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. /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 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. 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. We recommend that you read the Notice and other relevant case documents carefully. 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"). The class specifically excluded CCA and CoreCivic officers named as defendants. The only way to be eligible to receive a payment from the Settlement. The class action suit has a class period of between Feb. 27, 2012, and Aug. 17, 2016. LEXIS 50444. What went into DOJs decision? (484) 270-1453; or via e-mail at info@ktmc.com. New York, NY 10012, Main: 212-614-6464 Kessler Topaz Meltzer & Check, LLPDarren J. 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. 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.. Security. 666 Broadway The Settlement, if approved, will result in the creation of a cash settlement fund of $56,000,000.00 (the Settlement Amount). 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. KESSLER TOPAZ MELTZER & CHECK, LLP 2023 ALL RIGHTS RESERVED. the matter and whether to establish an attorney client relationship. All rights reserved. at (888) 299 - 7706 or at info@ktmc.com. 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. 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. Get no payment. 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"). Delayed Nyse (M.D. securities between February 27, 2012 and August 17, 2016, inclusive, and who were damaged thereby. 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. 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. 3:16-cv-02267; 2019 U.S. Dist. CCA entered into a series of exclusive agreements with telephone companies to provide inmate telephone service at various CCA-run prisons and jails. Check, Esq. 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.. You will not be charged for these lawyers. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. 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. D. Seamus Kaskela, Esq. | February 7, 2023 Advanced search Log in Forgot password ? 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. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. New to ClassAction.org? Following Yates announcement, CCAs stock fell $9.65, or 39.45%, to close at $17.57 on August 18, 2016, the complaint alleged. In this lawsuit, plaintiffs alleged that unconscionable phone arrangements established by the Corrections Corporation of America and various telephone companies violated their constitutional rights. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The class and CoreCivic agreed on April 15, 2021 to settle the lawsuit for $56 million, which includes attorney fees and costs. 3:16-cv-02267 (the "Litigation"), pending before the United States District Court for the Middle District of Tennessee (the "Court"). 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. 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. Copyright 2023 Surperformance. | November 22, 2022 CoreCivic, Inc., formerly Corrections Corporation of America, is the defendant proposed class action filed over alleged human trafficking and labor law violations. 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