D. Seamus Kaskela, Esq. On some level it seems as though Wall Street had expected a downturn to come in this regard. CCA entered into a series of exclusive agreements with telephone companies to provide inmate telephone service at various CCA-run prisons and jails. No settlement was reached however, and on October 31, 2003, CCR filed a petition for rulemaking with the FCC. Date Filed. Tenn.), Case No. 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. 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. 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. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. PCWG, 1114 Brandt Drive, Tallahassee FL 32308 Immediately below are spreadsheets of suits against the biggest vendors. 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 class action suit has a class period of between Feb. 27, 2012, and Aug. 17, 2016. In this lawsuit, plaintiffs alleged that unconscionable phone arrangements established by the Corrections Corporation of America and various telephone companies violated their constitutional rights. 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. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. 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. 08/23/2016. Kessler Topaz Meltzer & Check, LLPDarren J. or Adrienne O. 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. New York, NY 10012, Main: 212-614-6464 It also provides e-carceration technologies, transportation, and other services as part of the criminal punishment system. 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. Notice of Proposed Settlement of Class Action. They also alleged that the agreements violate the Sherman Anti-Trust Act, 15 U.S.C. 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. On May 31, 2019, Defendants and Plaintiff participated in another in-person mediation session with Mr. Lindstrom. 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.. When typing in this field, a list of search results will appear and be automatically updated as you type. Prior to this session, the Settling Parties provided to Mr. Lindstrom and exchanged supplemental mediation materials. See: Grae v. Corrections Corporation of America, USDC, C. Dist. Before commenting, please review our comment policy. Fax: 212-614-6499. 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. 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. They simply do not provide the same level of correctional services, programs, and resources, Yates said in making the announcement. 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 world's largest private prison company. . The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the. By signing this form you are Judge Trauger found there was a strong case to be made that CoreCivic got off easy with respect to the OIG report. Below these are specific cases. The day of the decision, it dropped to just $13.04. By Aug. 1, it was down to a little more than $32.50, then the downturn started picking up more speed. The contract prisons are operated by three private corporations, including Corrections Corporation of America. The fact that CoreCivics stock eventually recovered was no defense to its alleged use of false statements and failure to disclose adverse information. The civil complaint cited statements made in Annual Reports CCA filed with the Securities and Exchange Commission. 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. Remember Or log in with Google Twitter Facebook Apple Sign up 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. 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. This action is still ongoing. The lawsuit captioned Grae v. Corrections Corporation of America, et al., Case No. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. Following the second in-person mediation, the Settling Parties continued settlement discussions through Mr. Lindstrom and Hon. 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. What went into DOJs decision? Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT, , Civil Action No. 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. We recommend that you read the Notice and other relevant case documents carefully. Seamus Kaskela, Esq.Adrienne O. 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. Tenth Circuit Revives Suit Against Colorado Jail Guard in Death of Mentally Disabled Detainee, Nov. 30, 2022. 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.. 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. All rights reserved. Goldberg Law PC announces that a class action lawsuit has been filed against Corrections Corporation of America .. | February 6, 2023 . What Is This Lawsuit About? New to ClassAction.org? Ms. Wright was present for the announcement along with other family members of prisoners, advocates and other allies. you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss Security. Copyright 2023 Surperformance. 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"). Filed Date: April 27, 2011 Closed Date: May 23, 2016 Clearinghouse coding complete . the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. 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. 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. Copyright 2023 Surperformance. 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. 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. 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. 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. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Bell, Esq.) Corrections Corporation of America/CoreCivic, Rural Prisons . Any information you Community Corrections E-Carceration Adrienne O. Advanced search Log in. 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. The law firm of Robbins Geller Rudman & Dowd LLP represents you and other Class Members. The lawsuit, filed in August 2016 against the company and four executives, alleges CoreCivic, formerly named Corrections Corp. of America, made false and misleading statements about its. Shares of Corrections Corp Of America (NYSE:CXW) declined from $27.38 per share to . A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. $2.57 Million Settlement for Hogtying Death in NC Police Custody, Nov. 30, 2022. 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 suits allege that the drug is defective and unreasonably dangerous and was not adequately labeled to warn both patients and doctors of its risks. Filed: May 31, 2017 3:17-cv-01112-JLS-NLS. 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. The Settlement, if approved, will result in the creation of a cash settlement fund of $56,000,000.00 (the Settlement Amount). 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 Upgrades CoreCivic to Outperform From Neutral, Adds Stock to Best Ideas List, A.. 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 lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. 3:16-cv-02267 (M.D. February 6, 2023. 3:16-cv-02267 Honorable Aleta A. Trauger . CORRECTIONS CORPORATION OF AMERICA, et al., Defendants. ) 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. Delayed Nyse 2. 27, 2012 and August 17, 2016, inclusive (the "Class Period"). New York, NY 10012, Main: 212-614-6464 District Judge Gladys Kessler acknowledged the civil rights concerns, but referred the case to the Federal Communications Commission, under the doctrine of primary jurisdiction. Each of these contracts is subject to review by federal officials, but experts generally expect that few if any will be renewed. For more information on this case or other class action litigations, please contact Adam Foulke at 203-987-4949 or info@battea.com. 7th Floor TN, Case No. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. 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 . 3:16-cv-02267 (the "Litigation"), pending before the United States District Court for the Middle District of Tennessee (the "Court"). 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. 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. (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). Ms. Wright was present for the announcement along with other family members of prisoners, advocates and other allies. 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.. Kessler Topaz Meltzer & Check, LLPDarren J. Lawsuit Filed, Settlement Proposed, Settlement Approved. As a digital subscriber to Prison Legal News, you can access full text and downloads for this and other premium content. 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. Sections 1 et seq., the Communications Act, 47 U.S.C. Please read this entire Notice carefully. CoreCivic, Inc. Reports Impairment of Real Estate Assets for the Fourth Quarter Ended D.. CoreCivic, Inc. 3:16-cv-02267 (the "Litigation"), pending before the United States District Court for the Middle District of Tennessee (the "Court"). For two years, CCR participated in a mediation process with defendants and the Special Enforcement unit of the FCC as required. | February 7, 2023 Advanced search Log in Forgot password ? At issue were allegedly materially false and misleading statements issued during the class period. KESSLER TOPAZ MELTZER & CHECK, LLP 2023 ALL RIGHTS RESERVED. 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. 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. GENERAL INSTRUCTIONS 1. 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. For two years, CCR participated in a mediation process with defendants and the Special Enforcement unit of the FCC as required. 666 Broadway 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. 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.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 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. The Settling Parties engaged in good faith negotiations, but did not reach a settlement. (M.D. 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. Join us on the front lines for social justice! The complaint alleges that the Company made false and/or misleading statements and/or failed to disclose: (a) that Corrections . ClassAction.org is a group of online professionals (designers, developers and writers) with years of experience in the legal industry. The complaint in this action was not filed by Kessler Topaz Meltzer & Check. 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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. Case No. 666 Broadway 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.