The fact that CoreCivics stock eventually recovered was no defense to its alleged use of false statements and failure to disclose adverse information. 3:16-cv-02267, has been certified by the District Court as a class action; and Amalgamated Bank, as Trustee for . For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com. or Adrienne O. Read more here: Camp Lejeune Lawsuit Claims. 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. The Settlement, if approved, will result in the creation of a cash settlement fund of $56,000,000.00 (the Settlement Amount). A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. 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. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. 3:16-cv-02267, has been certified by the District Court as a class action; and Amalgamated Bank, as Trustee for . Radnor, PA 19087 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. You will not be charged for these lawyers. Corrections Corp Of America (NYSE:CXW) Investor Securities Class Action Lawsuit 08/23/2016. 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. ClassAction.org is a group of online professionals (designers, developers and writers) with years of experience in the legal industry. He emphasized that CoreCivic believed the allegations in the lawsuit were without merit.. 08/23/2016. (M.D. Detainees who were paid small wages for their work, the case alleges, were only allowed to spend these funds at CoreCivics commissary. Any information you In some instances CoreCivic pays detainees $1 per day, and in other instances detainees are not compensated with wages at all for their labor and services, the lawsuit claims, adding that the defendant reported nearly $1.8 billion in total revenues from 2016. Join us on the front lines for social justice! 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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. 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. Check, Esq. 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). This was also true for its rehabilitative services in comparison with those provided by the BOP. 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. 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. Delayed Nyse (888) 299-7706 Expert depositions are scheduled to conclude on October 30, 2020. This browser does not support PDFs. 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.. 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. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. In short, the defendants profited from their unfair control over imprisoned people. Shares of Corrections Corp Of America (NYSE:CXW) declined from $27.38 per share to . Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. Check, Esq., D. Seamus Kaskela, Esq. Community Corrections E-Carceration Date Filed. 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. These exclusive dealing agreements resulted in the same civil rights violations as have been alleged in CCRs other two prison telephone cases. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. 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. Donations: 212-614-6448 All rights reserved. Copyright 2023 Surperformance. 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. . 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. 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. GENERAL INSTRUCTIONS 1. 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. ) ) ) ) ) ) ) ) Civil Action No. The only way to be eligible to receive a payment from the Settlement. 27, 2012 and August 17, 2016, inclusive (the "Class Period"). 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. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. Incarcerated People Are Paying the Price. Lawsuit Filed, Settlement Proposed, Settlement Approved. 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. 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 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. 3:16-cv-02267. 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. 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. Filed: May 31, 2017 3:17-cv-01112-JLS-NLS. 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. 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 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. 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. On April 15, 2021, the Settling Parties accepted the mediators proposal to resolve the Litigation, and on May 19, 2021, executed a Settlement Agreement memorializing their agreement. . 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. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. 3:16-cv-02267, was filed in the District Court. 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. Read our Newswire Disclaimer. Please read this entire Notice carefully. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. The suit, brought under the Fair Labor Standards Act, alleged that CCA had . The day of the decision, it dropped to just $13.04. The complaint in this action was not filed by Kessler Topaz Meltzer & Check. 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. Sections 1 et seq., the Communications Act, 47 U.S.C. 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 (M.D. 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. CoreCivic and its executives, as might be expected, typically portrayed its services in a positive light to shareholders, the district court wrote. Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. 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. 3:16-cv-02267 Honorable Aleta A. Trauger . (484) 270-1453; or via e-mail at info@ktmc.com. Corrections Corporation of America 1:11-cv-00185 | U.S. District Court for the District of Idaho. The outlook for CoreCivic and the private prison industry took a hit with the Biden administration in the White House. CoreCivic, Inc., formerly Corrections Corporation of America, is the defendant proposed class action filed over alleged human trafficking and labor law violations. 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. Before commenting, please review our comment policy. 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. 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 District Court later appointed Amalgamated Bank, as . It also provides e-carceration technologies, transportation, and other services as part of the criminal punishment system. 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. A trial is scheduled for May 18, 2021. 07/28/2021. Following the second in-person mediation, the Settling Parties continued settlement discussions through Mr. Lindstrom and Hon. Whether anything actually comes of that remains to be seen. 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 You will still be a Member of the Class. 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. For more information on this case or other class action litigations, please contact Adam Foulke at 203-987-4949 or info@battea.com. The complaint in this action was not filed by Kessler Topaz Meltzer & Check. The precipitous decline in the market value caused the class to suffer significant losses and damages., CoreCivic President and CEO Damon Hininger said the company was glad to put the litigation behind itself. 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 . 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. They also alleged that the agreements violate the Sherman Anti-Trust Act, 15 U.S.C. We recommend that you read the Notice and other relevant case documents carefully. The lawsuit was filed August 23, 2016, on behalf of the class of stock holders of CoreCivic, which trades on the New York Stock Exchange under the ticker symbol CXW. The class consisted of persons who held CCA stock between February 27, 2012 and August 17, 2016. -, Transcript : CoreCivic, Inc., Q4 2022 Earnings Call, Feb 09, 2023, CoreCivic's Q4 Adjusted Earnings, Revenue Decline. 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. Remember Or log in with Google Twitter Facebook Apple Sign up In February of 2000 CCR filed Wright v. Corrections Corporation of America, a nationwide class action lawsuit, seeking 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 operates 82 prisons and jails in 26 states pursuant to agreements with state and local governments under which persons under the jurisdiction and control of those governments are transferred to CCA facilities for incarceration. 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. Ms. Wright was present for the announcement along with other family members of prisoners, advocates and other allies. $2.57 Million Settlement for Hogtying Death in NC Police Custody, Nov. 30, 2022. Copyright 2023 Surperformance. Check, Esq., D. Seamus Kaskela, Esq. The petition sought restructuring of long distance inmate calling services to introduce competition. 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. Goldberg Law PC announces that a class action lawsuit has been filed against Corrections Corporation of America .. | February 6, 2023. Status. . Corrections Corporation of America, a nationwide class action lawsuit, seeking 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 operates 82 prisons and 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. The complaint alleges that the Company made false and/or misleading statements and/or failed to disclose: (a) that Corrections . Bell, Esq.) Correction Corporation of Americas stock price hit a high in June, rising north of $35 per share, then declining slowly but steadily over the remainder of the summer, according to data from Google Finance. The plaintiffs also alleged that the agreements violated the Sherman Anti-Trust Act, 15 U.S.C. The class specifically excluded CCA and CoreCivic officers named as defendants. Check, Esq.D. Ask to speak in Court about the fairness of the Settlement. 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. 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. 2. The lawsuit captioned Grae v. Corrections Corporation of America, et al., Case No. Darren J. 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. As a digital subscriber to Prison Legal News, you can access full text and downloads for this and other premium content. They simply do not provide the same level of correctional services, programs, and resources, Yates said in making the announcement. 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