The outlook for CoreCivic and the private prison industry took a hit with the Biden administration in the White House. 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. The petition sought restructuring of long distance inmate calling services to introduce competition. Security. The Trump administration reversed course on the end of private prison contracts from the government. The fact that CoreCivics stock eventually recovered was no defense to its alleged use of false statements and failure to disclose adverse information. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. 3:16-cv-02267, has been certified by the District Court as a class action; and Amalgamated Bank, as Trustee for . Defendants deny each and all of Plaintiffs allegations. 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. 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. (610) 667-7706 Goldberg Law PC announces that a class action lawsuit has been filed against Corrections Corporation of America .. | February 6, 2023. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. | November 22, 2022 Are you a current or former employee of Corrections Corporation of America (2016)? Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. In this lawsuit, plaintiffs alleged that unconscionable phone arrangements established by the Corrections Corporation of America and various telephone companies violated their constitutional rights. 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. 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. 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. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. Share No settlement was reached however, and on October 31, 2003, CCR filed a petition for rulemaking with the FCC. CCA shareholders who purchased securities during the Class Period may, no later than October 24, 2016, seek to be appointed as a lead plaintiff of the class. CCA entered into a series of exclusive agreements with telephone companies to provide inmate telephone service at various CCA-run prisons and jails. The court granted their motion on April 27, 2011 and allowed the . This is the only option that. Camp Lejeune residents now have the opportunity to claim compensation for harm suffered from contaminated water. Donations: 212-614-6448 Delayed Nyse Wright v. Corrections Corporation of America. Guard Misconduct, Settlements, Excessive Force (Wrongful Death) . 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. 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. Sections 1 et seq., the Communications Act, 47 U.S.C. In reaching this conclusion, U.S. District Court Judge Aleta A. Trauger quoted emails in which CoreCivic executives expressed concerns about the pending report, then surprise and pleasure that it did not dwell on some of the more serious deficiencies at private prisons such as continuous understaffing and was directed more at problems with the BOPs oversight role. 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 Darren J. 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"): 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. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, https://www.ktmc.com/new-cases/corrections-corporation-of-america#join, Final Deadline Approaching on March 7, 2023: Kessler Topaz Meltzer & Check, LLP Reminds Enovix Corporation Investors of Class Action Lawsuit Deadline, Lead Plaintiff Deadline on March 7, 2023 for Enovix Corporation Investors - Kessler Topaz Meltzer & Check, LLP Reminds Investors of Class Action Lawsuit Filed Against Enovix Corporation. Date Filed. 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. But the court agreed with Amalgamated that the OIG report did not address the scope of the problems. the matter and whether to establish an attorney client relationship. 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. 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.. The day of the decision, it dropped to just $13.04. . 666 Broadway Advanced search Log in. 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 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. In short, the defendants profited from their unfair control over imprisoned people. or Adrienne O. The complaint in this action was not filed by Kessler Topaz Meltzer & Check. (M.D. 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. CCA shareholders may, no Please read this entire Notice carefully. The Settlement, if approved, will result in the creation of a cash settlement fund of $56,000,000.00 (the Settlement Amount). 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.. 08/23/2016. from 8 AM - 9 PM ET. Any information you 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. These exclusive dealing agreements resulted in the same civil rights violations as have been alleged in CCRs other two prison telephone cases. Get no payment. 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. New cases and investigations, settlement deadlines, and news straight to your inbox. 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Goldberg Law PC announces that a class action lawsuit has been filed against Corrections Corporation of America .. | February 6, 2023 . 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 class specifically excluded CCA and CoreCivic officers named as defendants. If you want to be represented by your own lawyer, you may hire one at your own expense. Bell, Esq.) Corrections Corporation of America Has Long History of Wage Violations, Poor Treatment of Employees. 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. 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"). 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. you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss 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. Remember Or log in with Google Twitter Facebook Apple Sign up No settlement was reached however, and on October 31, 2003, CCR filed a petition for rulemaking with the FCC. 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. The suit, brought under the Fair Labor Standards Act, alleged that CCA had . 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. 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. The complaint alleges that the Company made false and/or misleading statements and/or failed to disclose: (a) that Corrections . 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. 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Whether anything actually comes of that remains to be seen. Check, Esq. You will not be charged for these lawyers. The lawsuit captioned Grae v. Corrections Corporation of America, et al., Case No. 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. 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. 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). What went into DOJs decision? 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 civil complaint cited statements made in Annual Reports CCA filed with the Securities and Exchange Commission. 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. 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. 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. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. 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. 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. Therefore, class-action status was granted. 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. the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. On Aug. 17, the day before the DOJ announcement, Correction Corporation was trading at just $27.22 per share. Before commenting, please review our comment policy. You will still be a Member of the Class. 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. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). Copyright 2023 Surperformance. Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. 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. 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. At issue were allegedly materially false and misleading statements issued during the class period. Bell, Esq. For two years, CCR participated in a mediation process with defendants and the Special Enforcement unit of the FCC as required. Title. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. The only way to be eligible to receive a payment from the Settlement. This action is still ongoing. The complaint in this action was not filed by Kessler Topaz Meltzer & Check. info@ktmc.com, SOURCE: Kessler Topaz Meltzer & Check, LLP. For more information on this case or other class action litigations, please contact Adam Foulke at 203-987-4949 or info@battea.com. Wedbush Upgrades CoreCivic to Outperform From Neutral, Adds Stock to Best Ideas List, A.. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). 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. 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. For more information, visit Battea's Corrections . 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. or Adrienne O. All rights reserved. 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. 666 Broadway For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. 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