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. 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. 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. $2.57 Million Settlement for Hogtying Death in NC Police Custody, Nov. 30, 2022. 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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. 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 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. 3:16-cv-02267, was filed in the District Court. 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 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. Read our Newswire Disclaimer. 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. (610) 667-7706 Forgot password ? 7th Floor Filed Date: April 27, 2011 Closed Date: May 23, 2016 Clearinghouse coding complete . LEXIS 50444. For two years, CCR participated in a mediation process with defendants and the Special Enforcement unit of the FCC as required. 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. The mediation was preceded by submission of mediation statements by the Settling Parties. They, however, came as a shock to the stock market. 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 fact that CoreCivics stock eventually recovered was no defense to its alleged use of false statements and failure to disclose adverse information. Status. 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 . 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. Tenn.), Case No. 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.. Bell, Esq.) Get no payment. D. Seamus Kaskela, Esq. No settlement was reached however, and on October 31, 2003, CCR filed a petition for rulemaking with the FCC. 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 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. 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. of Phillips ADR, an experienced mediator. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. 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. 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. New York, NY 10012, Main: 212-614-6464 3:16-cv-02267 (the "Litigation"), pending before the United States District Court for the Middle District of Tennessee (the "Court"). 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. Finally, this claim also takes into account the recent decision by the U.S. Department of Justice not to renew or extend its contracts with private corrections companies, which sent Corrections Corporations stock plummeting in mid-August. Corrections Corporation of America Has Long History of Wage Violations, Poor Treatment of Employees. 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. 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. 3:16-cv-02267 (the "Litigation"), pending before the United States District Court for the Middle District of Tennessee (the "Court"). Join us on the front lines for social justice! 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. 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. Please download the PDF to view it: Download PDF. Case No. 3:16-cv-02267 Honorable Aleta A. Trauger PROOF OF CLAIM AND RELEASE I. At issue were allegedly materially false and misleading statements issued during the class period. Additional sources: usnews.com, tennessean.com. Donations: 212-614-6448 The outlook for CoreCivic and the private prison industry took a hit with the Biden administration in the White House. 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 additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. Kessler Topaz Meltzer & Check, LLP at (888) 299 - 7706 or at info@ktmc.com. 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. These exclusive dealing agreements allow defendants to use their control over a captive audience to unjustly enrich themselves. Class Member. 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. 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. By Aug. 1, it was down to a little more than $32.50, then the downturn started picking up more speed. The Federal Communications Commission (FCC) finally approves new rules capping prison phone rates, ten years after Martha Wright filed her petition. 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. 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. Filed: May 31, 2017 3:17-cv-01112-JLS-NLS. Below these are specific cases. By signing this form you are 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. 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). 3:16-cv-02267 (M.D. This action is still ongoing. For more information, visit Battea's Corrections . It also provides e-carceration technologies, transportation, and other services as part of the criminal punishment system. Title. Therefore, class-action status was granted. 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. CoreCivic, Inc. Reports Impairment of Real Estate Assets for the Fourth Quarter Ended D.. CoreCivic, Inc. But the court agreed with Amalgamated that the OIG report did not address the scope of the problems. 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. Remember Or log in with Google Twitter Facebook Apple Sign up 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. -, Transcript : CoreCivic, Inc., Q4 2022 Earnings Call, Feb 09, 2023, CoreCivic's Q4 Adjusted Earnings, Revenue Decline. Check, Esq., D. Seamus Kaskela, Esq. you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss [See: PLN, Oct. 2018, p.30; Oct. 2016, p.22]. Fax: 212-614-6499, CCR filed a petition for rulemaking with the FCC. The civil complaint cited statements made in Annual Reports CCA filed with the Securities and Exchange Commission. 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. 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. Check, Esq.D. The suit, brought under the Fair Labor Standards Act, alleged that CCA had . At its core, the lawsuit takes issue with the entire for-profit detention system into which many undocumented immigrants are thrown into to face removal proceedings. Following the second in-person mediation, the Settling Parties continued settlement discussions through Mr. Lindstrom and Hon. Receive no payment. On August 23, 2016, an action captioned , Grae v. Corrections Corporation of America, et al. 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. 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. New to ClassAction.org? 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. Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. Bell, Esq.) or Adrienne O. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). Security. 3:16-cv-02267, has been certified by the District Court as a class action; and Amalgamated Bank, as Trustee for . The contract prisons are operated by three private corporations, including Corrections Corporation of America. On Aug. 17, the day before the DOJ announcement, Correction Corporation was trading at just $27.22 per share. The complaint in this action was not filed by Kessler Topaz Meltzer & Check. Expert depositions are scheduled to conclude on October 30, 2020. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. 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 lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. 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.. Judge Trauger found there was a strong case to be made that CoreCivic got off easy with respect to the OIG report. The Stipulation (together with the Exhibits thereto) reflects the final and binding agreement between the Settling Parties. 3:16-cv-02267; 2019 U.S. Dist. Prior to this session, the Settling Parties provided to Mr. Lindstrom and exchanged supplemental mediation materials. Seamus Kaskela, Esq.Adrienne O. 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. The submission of this form does not create an attorney-client relationship, nor an obligation on Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Bell, Esq.) 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. Bell, Esq. Did you purchase shares of Corrections Corporation of America (2016) prior to the Class Period? The complaint in this action was not filed by Kessler Topaz Meltzer & Check. 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 Incarcerated People Are Paying the Price. 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.
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