Get no payment. The complaint in this action was not filed by Kessler Topaz Meltzer & Check. [See: PLN, Oct. 2018, p.30; Oct. 2016, p.22]. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. The world's largest private prison company. /PRNewswire/ -- Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in United States District Court for the Middle District of Tennessee. KESSLER TOPAZ MELTZER & CHECK, LLP 2023 ALL RIGHTS RESERVED. 3:16-cv-02267, has been certified by the District Court as a class action; and Amalgamated Bank, as Trustee for . Corrections Corp Of America (NYSE:CXW) Investor Securities Class Action Lawsuit 08/23/2016. 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. Ask to speak in Court about the fairness of the Settlement. 3:16-cv-02267 Honorable Aleta A. Trauger . Corrections Corporation of America Has Long History of Wage Violations, Poor Treatment of Employees. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Last week . 3:16-cv-02267; 2019 U.S. Dist. 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. 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. 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. But the court agreed with Amalgamated that the OIG report did not address the scope of the problems. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). Bell, Esq.) 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, CoreCivic Reports Fourth Quarter and Full Year 2022 Financial Results. 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. Adrienne O. 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. Consequently, the stock has dropped 56 percent from its year-to-date high, observed just a few months earlier. When typing in this field, a list of search results will appear and be automatically updated as you type. Notice of Proposed Settlement of Class Action. For more information on this case or other class action litigations, please contact Adam Foulke at 203-987-4949 or info@battea.com. | November 22, 2022 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. 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. The day of the decision, it dropped to just $13.04. 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. 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. 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. Donations: 212-614-6448 the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Check, Esq., D. Seamus Kaskela, Esq. They, however, came as a shock to the stock market. What Is This Lawsuit About? The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the. 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For more information, visit Batteas Corrections Corporation of America case summary. submit will be maintained as confidential. You will not be charged for these lawyers. By signing exclusive agreements that typically result in excessively high rates and surcharges on collect-only calling by prisoners, 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, are all being violated. or Adrienne O. District Judge Gladys Kessler acknowledged the civil rights concerns, but referred the case to the Federal Communications Commission, under the doctrine of primary jurisdiction. Kessler Topaz Meltzer & Check, LLP Before commenting, please review our comment policy. Darren J. 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.. 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. Copyright 2023 Surperformance. Ordering the federal officials to not renew private prison contracts was one of the first acts President Biden made upon taking office. All rights reserved. No settlement was reached however, and on October 31, 2003, CCR filed a petition for rulemaking with the FCC. by Matt Clarke 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. 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. 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.. you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss Filed: May 31, 2017 3:17-cv-01112-JLS-NLS. 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. This browser does not support PDFs. 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. 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. Please download the PDF to view it: Download PDF. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. 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 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. The complaint alleges that the Company made false and/or misleading statements and/or failed to disclose: (a) that Corrections . Each of these contracts is subject to review by federal officials, but experts generally expect that few if any will be renewed. The Trump administration reversed course on the end of private prison contracts from the government. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. 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. 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). 666 Broadway at (888) 299-7706 or at info@ktmc.com. 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. (the "Stipulation") dated June 24, 2021, which can be found and downloaded by clicking on the Case Documents tab above. securities between February 27, 2012 and August 17, 2016, inclusive, and who were damaged thereby. 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. Case No. 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 suit was filed in August 2016 against defendants CoreCivic and four of its executives CEO Damon T. Hininger, CFO David M. Garfinkle, Todd J. Mullenger and board member and former federal Bureau of Prisons director Harley G. Lappin. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. | February 7, 2023 Advanced search Log in Forgot password ? 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 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. 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. Seamus Kaskela, Esq.Adrienne O. LEXIS 50444. 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 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. Detainees who were paid small wages for their work, the case alleges, were only allowed to spend these funds at CoreCivics commissary. 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. 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. 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.. In March of 2007, CCR and its partners filed an alternative rulemaking proposal. Any information you Layn R. Phillips (Ret.). PLN printISSN: 10757678 |PLN online ISSN: 2577-8803, Corrections Corporation of America/CoreCivic, Former Prisoner Becomes California Coffee Entrepreneur, Motions to Dismiss by Corizon and Wexford Denied in Lawsuit Over Florida Prisoners Double Leg Amputation, Fifth Circuit Reinstates Texas Prisoners Excessive Force Claims, Michigan: Settlement in Class-Action Suit by Prisoners with Hearing Disabilities, Montana Parolee Sues CoreCivic Over Prison Assault, Brain Injury, Sheriff, Undersheriff and Deputies Resign Over Safety Issues at Oklahoma Jail, Texas Prisoner Sues Former Guards for Planting Screwdrivers in His Cell, $3 Million Settlement Where Prison Doctor Failed to Treat Disabled Illinois Prisoner, Florida: No Qualified Immunity for Jail Medical Staff in Prisoners Death, Texas Prisoners Lawsuit Over Reaction to Prison Blankets Moves Forward, Federal Government Pays Nation of Islam to Teach BOP Prisoners, Florida Prisons and Jails Retaliate Against Prisoners Who File Lawsuits by Countersuing for Costs of Incarceration, Study Finds More Private Prisons Result in Judges Imposing Slightly Longer Sentences, New Jersey Federal Court Approves $1.5 Million Jail Strip-Search Settlement, Minnesota Prisoners Win Access to New Hepatitis C Medications, Maine: Prosecutorial Misconduct in False Rape Case Results in $2.1 Million in Damages, Michigan Prisoner Dies from Cocaine Overdose, Sergeant and Paramedics Charged, $3.75 Million Settlement, Texas Bans All Clergy from Death Chamber after Supreme Court Stays Execution, Arrestee Dies in a Jail with No Medical Staff; Eleventh Circuit Reverses Dismissal, Scammers Deprive Prisoners with Legitimate Substance Abuse Problems of BOP Drug Treatment, New Bill Restricts Use of Solitary Confinement in New Mexico, Interim Attorney Fees Awarded in Kentucky Good Time Lawsuit, More States on Track to Restore Voting Rights to Felons, but Not Without Hurdles, Mentally Ill Texas Woman Ignored to Death After Five Months in Jail, Pennsylvania Prisoners Cigarette Stashes to Go Up in Smoke, Monterey County, California Pays $365,000 for Jail Prisoners Death, Former Louisiana Warden Nate Cain, Son of Infamous Burl Cain, Pleads Guilty, Minnesota Sheriff Hit with Attorney Fees Award in Civil Rights Case, End of Gubernatorial Terms Bring Pardons, Commutations, Federal Judge Holds Bivens Not Applicable to Prison Workplace Discrimination Claims, Michigan: $40,000 Settlement for Parole Violation Sanctions Absent Due Process, Eighth Circuit Reinstates Iowa Prisoners Retaliation Claims, Mississippi Prison Industry Program Faltering, CEO Fired, Nevada: Jail Death Due to Excessive Force Leads to $175,000 in Settlements, Ninth Circuit Issues Ruling on Arizona DOC Stipulated Settlement, California: Denial of Bed During Jail Disturbances Not a Constitutional Violation, $115,000 Settlement after Nebraska Prison Nurses Ignore Prisoners Heart Attack, Tennessee: Federal Court Grants Class-Action Status in Shareholder Suit Against CoreCivic, Fifth Circuit Holds Transgender Prisoner Not Entitled to Sex Reassignment Surgery, Native American Prisoners Win Lawsuit Over Right to Wear Long Hair, Game of Kings Has Large Following, Long History Behind Bars, D.C. Court Awards $501 Million in Suit Against North Korea for Torture-Death of Prisoner, Fourth Circuit Reverses Dismissal of South Carolina Prisoners Suit Over Safekeeper Status, Some Prisons Are Using Virtual Reality for Reentry and Other Programs, New Study Finds Mass Incarceration Impacts Over Half of U.S. The case is currently in discovery. 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"). 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 class and CoreCivic agreed on April 15, 2021 to settle the lawsuit for $56 million, which includes attorney fees and costs. Tenn.) (the "Litigation"), you must complete and, on Join us on the front lines for social justice! 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. Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. The fact that CoreCivics stock eventually recovered was no defense to its alleged use of false statements and failure to disclose adverse information. Frank Krogh, Doane Kiechel, and Jennifer Kostyu, Morrison & Forester LLP, Deborah Golden, D.C. Prisoners Project,Stephen Seliger and Laurie Elkin, Seliger & Elkin Ltd. The contract prisons are operated by three private corporations, including Corrections Corporation of America. (484) 270-1453; or via e-mail at info@ktmc.com. Therefore, class-action status was granted. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. 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. It owns and operates prisons and jails, including immigration jails and "community corrections" centers, and uses forced prison labor. Tenn.), Case No. Read our Newswire Disclaimer. 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 law firm of Robbins Geller Rudman & Dowd LLP represents you and other Class Members. 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. Following the second in-person mediation, the Settling Parties continued settlement discussions through Mr. Lindstrom and Hon. They simply do not provide the same level of correctional services, programs, and resources, Yates said in making the announcement. The complaint in this action was not filed by Kessler Topaz Meltzer & Check. 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. For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com. The district court found that Amalgamated had met the requirements of numerosity, commonality, typicality and adequacy of representation for class certification. Check, Esq. 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. Receive no payment. 3:16-cv-02267 (M.D. YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT, , Civil Action No. What went into DOJs decision? Bell, Esq.) Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. Filed Date: April 27, 2011 Closed Date: May 23, 2016 Clearinghouse coding complete . CCR filed a petition for rulemaking with the FCC. Community Corrections E-Carceration Status. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. or Adrienne O. Join us on the front lines for social justice! LEXIS 50444. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. 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 Settling Parties engaged in arms-length negotiations during the mediation session, but were unable to reach an agreement. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Bell, Esq.) 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. CoreCivic and its executives, as might be expected, typically portrayed its services in a positive light to shareholders, the district court wrote. Sections 151 et seq., and other laws of the District of Columbia. The Stipulation (together with the Exhibits thereto) reflects the final and binding agreement between the Settling Parties. 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. 2. 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.

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