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 contract prisons are operated by three private corporations, including Corrections Corporation of America. Expert depositions are scheduled to conclude on October 30, 2020. Seamus Kaskela, Esq.Adrienne O. The class and CoreCivic agreed on April 15, 2021 to settle the lawsuit for $56 million, which includes attorney fees and costs. If Kessler Topaz, in its sole discretion, believes that 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. For more information on this case or other class action litigations, please contact Adam Foulke at 203-987-4949 or info@battea.com. On Aug. 17, the day before the DOJ announcement, Correction Corporation was trading at just $27.22 per share. 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. Shares of Corrections Corp Of America (NYSE:CXW) declined from $27.38 per share to . 3:16-cv-02267 (the "Litigation"), pending before the United States District Court for the Middle District of Tennessee (the "Court"). On some level it seems as though Wall Street had expected a downturn to come in this regard. 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. This was also true for its rehabilitative services in comparison with those provided by the BOP. Corrections Corporation of America Has Long History of Wage Violations, Poor Treatment of Employees. Wright v. Corrections Corporation of America. Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. . The case is currently in discovery. 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.. at (888) 299 - 7706 or at info@ktmc.com. For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com. Corrections Corporation of America 1:11-cv-00185 | U.S. District Court for the District of Idaho. you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss 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. 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. Status. Donations: 212-614-6448 Updated. This browser does not support PDFs. (888) 299-7706 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. If you want to be represented by your own lawyer, you may hire one at your own expense. Filed Date: April 27, 2011 Closed Date: May 23, 2016 Clearinghouse coding complete . Get no payment. Last week . 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. 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. 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. Copyright 2023 Surperformance. 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. Frank Krogh, Doane Kiechel, and Jennifer Kostyu, Morrison & Forester LLP, Deborah Golden, D.C. Prisoners Project,Stephen Seliger and Laurie Elkin, Seliger & Elkin Ltd. -, Transcript : CoreCivic, Inc., Q4 2022 Earnings Call, Feb 09, 2023, CoreCivic's Q4 Adjusted Earnings, Revenue Decline. [See: PLN, Oct. 2018, p.30; Oct. 2016, p.22]. The law firm of Robbins Geller Rudman & Dowd LLP represents you and other Class Members. Share 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 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 . Bell, Esq.) GENERAL INSTRUCTIONS 1. On May 26, 2019, the Court certified the Class consisting of all persons who purchased or otherwise acquired Corrections Corporation of America. 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. 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. 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. 7th Floor For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. The plaintiffs allege the defendant threatened to punish detainees who refused to engage in tasks that the case claims included cleaning the entire facility, preparing meals for law enforcement events, clerical work, providing barber services, and preparing clothing for new inmates. Receive no payment. By Aug. 1, it was down to a little more than $32.50, then the downturn started picking up more speed. 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. The petition sought restructuring of long distance inmate calling services to introduce competition. 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. 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. Security. info@ktmc.com, SOURCE: Kessler Topaz Meltzer & Check, LLP. (M.D. 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. Those statements came as no surprise to PLN readers, for we have regularly reported the deficiencies of services and security in CCA and CoreCivic prisons for over 31 years now. The complaint alleges that the Company made false and/or misleading statements and/or failed to disclose: (a) that Corrections . Check, Esq., D. Seamus Kaskela, Esq. 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. 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. 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. 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. Guard Misconduct, Settlements, Excessive Force (Wrongful Death) . 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. submit will be maintained as confidential. Lawsuit Filed, Settlement Proposed, Settlement Approved. The lawsuit captioned Grae v. Corrections Corporation of America, et al., Case No. 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. 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). The Stipulation (together with the Exhibits thereto) reflects the final and binding agreement between the Settling Parties. When typing in this field, a list of search results will appear and be automatically updated as you type. 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. Seamus Kaskela, Esq.Adrienne O. 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. LEXIS 50444. We believe that this percentage compares favorably to the percentage of government-operated adult prisons that are accredited by the ACA, the report stated. 3:16-cv-02267 (M.D. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). 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.. KESSLER TOPAZ MELTZER & CHECK, LLP 2023 ALL RIGHTS RESERVED. Prior to this session, the Settling Parties provided to Mr. Lindstrom and exchanged supplemental mediation materials. 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 Other reports continued the theme of high standards that governed the operation of CCAs federal facilities. 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 Settlement Amount and any interest it earns constitute the Settlement Fund. The Settlement Fund, after deduction of Court-approved attorneys fees and expenses, Notice and Administration Expenses, Taxes, and any other fees or expenses approved by the Court, is the Net Settlement Fund. If the Settlement is approved by the Court, the Net Settlement Fund will be distributed to eligible Authorized Claimantsi.e., Members of the Class who timely submit valid Proofs of Claim and Releasein accordance with the proposed Plan of Allocation. For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com. 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. 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. For more information, visit Batteas Corrections Corporation of America case summary. 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. Ask to speak in Court about the fairness of the Settlement. 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. ClassAction.org is a group of online professionals (designers, developers and writers) with years of experience in the legal industry. For more information, visit Battea's Corrections . 08/23/2016. 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. 3:16-cv-02267 Honorable Aleta A. Trauger . Advanced search Log in. 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. Fax: 212-614-6499. 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. $2.57 Million Settlement for Hogtying Death in NC Police Custody, Nov. 30, 2022. YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT, , Civil Action No. Additional sources: usnews.com, tennessean.com. Bell, Esq. at (888) 299-7706 or at info@ktmc.com. Any information you 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.. No settlement was reached however, and on October 31, 2003, CCR filed a petition for rulemaking with the FCC. CoreCivic, Inc. Reports Impairment of Real Estate Assets for the Fourth Quarter Ended D.. CoreCivic, Inc. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. 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. 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 . This is the only option that. 666 Broadway 3:16-cv-02267 (the "Litigation"), pending before the United States District Court for the Middle District of Tennessee (the "Court"). In this lawsuit, plaintiffs alleged that unconscionable phone arrangements established by the Corrections Corporation of America and various telephone companies violated their constitutional rights. Check, Esq.D. The class specifically excluded CCA and CoreCivic officers named as defendants. CORRECTIONS CORPORATION OF AMERICA, et al., Defendants. ) 2. 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. 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. 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"). 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. Check, Esq., D. Seamus Kaskela, Esq. 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. Whether anything actually comes of that remains to be seen. 07/28/2021. The fact that CoreCivics stock eventually recovered was no defense to its alleged use of false statements and failure to disclose adverse information. Sections 151 et seq., and other laws of the District of Columbia. Defendants deny each and all of Plaintiffs allegations. 3:16-cv-02267. 3:16-cv-02267, was filed in the District Court. Before commenting, please review our comment policy. 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. Forgot password ? 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. As a digital subscriber to Prison Legal News, you can access full text and downloads for this and other premium content. The outlook for CoreCivic and the private prison industry took a hit with the Biden administration in the White House. Remember Or log in with Google Twitter Facebook Apple Sign up Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Kessler Topaz Meltzer & Check, LLP For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join.
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