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. PLN printISSN: 10757678 |PLN online ISSN: 2577-8803, Corrections Corporation of America/CoreCivic, PREA: Tackling the Nightmare of Prison Rape, Nebraska Supreme Court Holds Discretionary Function Exception Bars Lawsuit Over Prisons Botched Response to Uprising, Arizona Federal Court Rescinds Approval of Jensen Settlement; Sets Class Action Medical and Control Unit Case Against Arizona DOC for Trial, $50,000 Settlement for Denial of Medical Care at Tribal Jail in Montana, Protective Order Issued in Florida Solitary Confinement Lawsuit, Georgia Enacts Massive Probation Reform Bill. February 6, 2023. Did you purchase shares of Corrections Corporation of America (2016) prior to the Class Period? 3:16-cv-02267. Bell, Esq.280 King of Prussia RoadRadnor, PA 19087(888) 299 - 7706(610) 667 - 7706info@ktmc.com, To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-class-action-filed-against-corrections-corporation-of-america--cxw-300317822.html, SOURCE Kessler Topaz Meltzer & Check, LLP. 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. You will still be a Member of the Class. Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. Bell, Esq. YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT, , Civil Action No. ) ) ) ) ) ) ) ) Civil Action No. As a digital subscriber to Prison Legal News, you can access full text and downloads for this and other premium content. Following Yates announcement, CCAs stock fell $9.65, or 39.45%, to close at $17.57 on August 18, 2016, the complaint alleged. Lawsuit Claims CoreCivic Allowed Corruption and Gangs to Flourish at 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. 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. They also alleged that the agreements violate the Sherman Anti-Trust Act, 15 U.S.C. The Stipulation (together with the Exhibits thereto) reflects the final and binding agreement between the Settling Parties. This settlement will help ensure they dont lose money betting on the business of caging people for profit. the plaintiffs in the class action lawsuit moved to sever their case from the monetary claims. Get no payment. 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. For two years, CCR participated in a mediation process with defendants and the Special Enforcement unit of the FCC as required. 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. 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. 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. Layn R. Phillips (Ret.). These exclusive dealing agreements allow defendants to use their control over a captive audience to unjustly enrich themselves. Judge Trauger found there was a strong case to be made that CoreCivic got off easy with respect to the OIG report. 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). Martha Wright v. Corrections Corporation of America 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. The law firm of Robbins Geller Rudman & Dowd LLP represents you and other Class Members. The court granted their motion on April 27, 2011 and allowed the . This was also true for its rehabilitative services in comparison with those provided by the BOP. Copyright 2023 Surperformance. Corrections Corporation of America Has Long History of Wage Violations, Poor Treatment of Employees. For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com. Seamus Kaskela, Esq.Adrienne O. 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. The Settling Parties engaged in arms-length negotiations during the mediation session, but were unable to reach an agreement. Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Corrections For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. at (888) 299-7706 or at info@ktmc.com. 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. 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. Guard Misconduct, Settlements, Excessive Force (Wrongful Death) . PDF Notice of Proposed Settlement of Class Action America, Inc. ("Cca" or Class Action Says Bank of America Unlawfully Withholds Cash Rewards Kessler Topaz Meltzer & Check, LLPDarren J. Delayed Nyse 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. GENERAL INSTRUCTIONS 1. PDF United States District Court Middle District of Tennessee Corrections 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. 3:16-cv-02267 Honorable Aleta A. Trauger PROOF OF CLAIM AND RELEASE I. Lawsuit for Investors in shares of Corrections Corp Of | November 22, 2022 7th Floor 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.. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. Are you a current or former employee of Corrections Corporation of America (2016)? 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. Robbins Geller Rudman & Dowd LLP Announce Proposed Settlement in the /PRNewswire/ -- Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in United States District Court for the Middle District of Tennessee. Detainees who were paid small wages for their work, the case alleges, were only allowed to spend these funds at CoreCivics commissary. The case is currently in discovery. Check, Esq. 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. at (888) 299 - 7706 or at info@ktmc.com. 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. Last week . (M.D. The fact that CoreCivics stock eventually recovered was no defense to its alleged use of false statements and failure to disclose adverse information. 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 complaint in this action was not filed by Kessler Topaz Meltzer & Check. It also provides e-carceration technologies, transportation, and other services as part of the criminal punishment system. Wedbush Upgrades CoreCivic to Outperform From Neutral, Adds Stock to Best Ideas List, A.. 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. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. The Settlement, if approved, will result in the creation of a cash settlement fund of $56,000,000.00 (the Settlement Amount). [T]ime has shown the [private prisons] compare poorly to our own Bureau facilities. The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the. The world's largest private prison company. All rights reserved. Radnor, PA 19087 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. Delayed Nyse Consequently, the stock has dropped 56 percent from its year-to-date high, observed just a few months earlier. 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. 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. Please download the PDF to view it: Download PDF. For two years, CCR participated in a mediation process with defendants and the Special Enforcement unit of the FCC as required. 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.