. District Judge Gladys Kessler acknowledged the civil rights concerns, but referred the case to the Federal Communications Commission, under the doctrine of primary jurisdiction. Copyright 2023 Surperformance. No settlement was reached however, and on October 31, 2003, CCR filed a petition for rulemaking with the FCC. 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"). Read our Newswire Disclaimer. The only way to be eligible to receive a payment from the Settlement. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. the plaintiffs in the class action lawsuit moved to sever their case from the monetary claims. Please read this entire Notice carefully. Date Filed. 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. 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. 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. Donations: 212-614-6448 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 lawsuits two lead plaintiffs, former civil immigration detainees who were incarcerated and worked at the defendants 1,492-bed Otay Mesa Detention Center in California, alleges CoreCivic illegally forces and/or coerces detainees to clean, maintain and operate its detention facilities. New York, NY 10012, Main: 212-614-6464 3:16-cv-02267, has been certified by the District Court as a class action; and Amalgamated Bank, as Trustee for . The complaint alleges that the Company made false and/or misleading statements and/or failed to disclose: (a) that Corrections . We recommend that you read the Notice and other relevant case documents carefully. 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. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Receive no payment. 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. 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. 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. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. What Is This Lawsuit About? For two years, CCR participated in a mediation process with defendants and the Special Enforcement unit of the FCC as required. 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. Get no payment. Fax: 212-614-6499, CCR filed a petition for rulemaking with the FCC. Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. -, Transcript : CoreCivic, Inc., Q4 2022 Earnings Call, Feb 09, 2023, CoreCivic's Q4 Adjusted Earnings, Revenue Decline. Community Corrections E-Carceration Sections 151 et seq., and other laws of the District of Columbia. 3:16-cv-02267 (the "Litigation"), pending before the United States District Court for the Middle District of Tennessee (the "Court"). New York, NY 10012, Main: 212-614-6464 The effect on stock prices 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. 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. CCA entered into a series of exclusive agreements with telephone companies to provide inmate telephone service at various CCA-run prisons and jails. For more information, visit Battea's Corrections . CoreCivic, Inc. Reports Impairment of Real Estate Assets for the Fourth Quarter Ended D.. CoreCivic, Inc. 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. 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. Donations: 212-614-6448 The case is currently in discovery. Join us on the front lines for social justice! The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the. 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 The contract prisons are operated by three private corporations, including Corrections Corporation of America. ClassAction.org is a group of online professionals (designers, developers and writers) with years of experience in the legal industry. While Corrections Corporation of America still has a number of contracts with the DOJ that have yet to expire, the decision had a massive negative impact on the companys stock prices, which began reeling more or less immediately after the announcement. For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com. 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. Delayed Nyse Updated. 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.. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. 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. at (888) 299 7706 or at [emailprotected]. 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. Get class action lawsuit news sent to your inbox - sign up for ClassAction.org's free weekly newsletter here. | February 7, 2023 Advanced search Log in Forgot password ? 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. 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. 3:16-cv-02267; 2019 U.S. Dist. 3:16-cv-02267; 2019 U.S. Dist. The mediation was preceded by submission of mediation statements by the Settling Parties. These exclusive dealing agreements allow defendants to use their control over a captive audience to unjustly enrich themselves. Check, Esq.D. 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. If you want to be represented by your own lawyer, you may hire one at your own expense. Kessler Topaz Meltzer & Check, LLPDarren J. Copyright 2023 Surperformance. 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.. Kessler Topaz Meltzer & Check, LLPDarren J. Bell, Esq.) On February 28, 2019, the Settling Parties participated in a voluntary confidential mediation with Gregory Lindstrom, Esq. Radnor, PA 19087 666 Broadway Corrections Corp Of America (NYSE:CXW) Investor Securities Class Action Lawsuit 08/23/2016. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. Sections 1 et seq., the Communications Act, 47 U.S.C. The class action suit has a class period of between Feb. 27, 2012, and Aug. 17, 2016. Sections 1 et seq., the Communications Act, 47 U.S.C. 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. 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. Corrections Corporation of America/CoreCivic, Rural Prisons . On May 26, 2019, the Court certified the Class consisting of all persons who purchased or otherwise acquired Corrections Corporation of America. 3:16-cv-02267, has been certified by the District Court as a class action; and Amalgamated Bank, as Trustee for . They simply do not provide the same level of correctional services, programs, and resources, Yates said in making the announcement. The day of the decision, it dropped to just $13.04. The settlement was greeted cheerfully by the stock market, as seen by the 3.5% gain in CoreCivics stock price after the it was announced. 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. 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Filed: May 31, 2017 3:17-cv-01112-JLS-NLS. February 6, 2023. 08/23/2016. 7th Floor 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. The lawsuit captioned Grae v. Corrections Corporation of America, et al., Case No. Ordering the federal officials to not renew private prison contracts was one of the first acts President Biden made upon taking office. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). 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. For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com. Adrienne O. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. Goldberg Law PC announces that a class action lawsuit has been filed against Corrections Corporation of America .. | February 6, 2023. Did you purchase shares of Corrections Corporation of America (2016) prior to the Class Period? In March of 2007, CCR and its partners filed an alternative rulemaking proposal. 7th Floor at (888) 299-7706 or at info@ktmc.com. of Phillips ADR, an experienced mediator. from 8 AM - 9 PM ET. The civil complaint cited statements made in Annual Reports CCA filed with the Securities and Exchange Commission. 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. Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. We believe that this percentage compares favorably to the percentage of government-operated adult prisons that are accredited by the ACA, the report stated. Last week . PLN managing editor Alex Friedmann, who owns a small amount of CoreCivic stock as an activist investor, mainly for the purpose of filing shareholder resolutions, has filed a separate derivative suit against CoreCivic that was stayed pending developments in the Grae case, which remains pending. The lawsuit captioned Grae v. Corrections Corporation of America, et al., Case No. For more information on this case or other class action litigations, please contact Adam Foulke at 203-987-4949 or info@battea.com. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. 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 . 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. Judge Trauger found there was a strong case to be made that CoreCivic got off easy with respect to the OIG report. 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. 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. That included the likely discontinuation of its reliance upon private companies to run its facilities, as part of an effort to enact reforms that would ensure more proportional sentences and effective use of federal resources.. Below these are specific cases. 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. Bell, Esq. Case No. Fax: 212-614-6499. Check, Esq.D. The case claims punishments for non-compliant detainees could range from physical restraint to sustained restriction, deprivation, and violation of their liberty, and solitary confinement.. The plaintiffs also alleged that the agreements violated the Sherman Anti-Trust Act, 15 U.S.C. D. Seamus Kaskela, Esq. The court granted their motion on April 27, 2011 and allowed the . Expert depositions are scheduled to conclude on October 30, 2020. 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. Ms. Wright was present for the announcement along with other family members of prisoners, advocates and other allies. Ask to speak in Court about the fairness of the Settlement. Advanced search Log in. Tenn.) (the "Litigation"), you must complete and, on Filed Date: April 27, 2011 Closed Date: May 23, 2016 Clearinghouse coding complete . Additional sources: usnews.com, tennessean.com. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. 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. 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. Correction Corporation of Americas stock price hit a high in June, rising north of $35 per share, then declining slowly but steadily over the remainder of the summer, according to data from Google Finance. Following the second in-person mediation, the Settling Parties continued settlement discussions through Mr. Lindstrom and Hon. 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. 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. Share Prison Staff Are Refusing Vaccines. It owns and operates prisons and jails, including immigration jails and "community corrections" centers, and uses forced prison labor. 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. 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 You will not be charged for these lawyers. Seamus Kaskela, Esq.Adrienne O. 2. CoreCivic and its executives, as might be expected, typically portrayed its services in a positive light to shareholders, the district court wrote. at (888) 299 - 7706 or at info@ktmc.com. 3:16-cv-02267 (the "Litigation"), pending before the United States District Court for the Middle District of Tennessee (the "Court"). Incarcerated People Are Paying the Price. 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 suit, brought under the Fair Labor Standards Act, alleged that CCA had . What went into DOJs decision? A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. authorizing us to contact you regarding this case and/or future cases. Corrections Corporation of America 1:11-cv-00185 | U.S. District Court for the District of Idaho. As a digital subscriber to Prison Legal News, you can access full text and downloads for this and other premium content. 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.. 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. The petition sought restructuring of long distance inmate calling services to introduce competition. | November 22, 2022 This is the only option that. Corrado Rizzi is the Senior Managing Editor of ClassAction.org. On August 23, 2016, an action captioned , Grae v. Corrections Corporation of America, et al.