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. For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com. Ms. Wright was present for the announcement along with other family members of prisoners, advocates and other allies. Sections 1 et seq., the Communications Act, 47 U.S.C. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). . They also alleged that the agreements violate the Sherman Anti-Trust Act, 15 U.S.C. This settlement will help ensure they dont lose money betting on the business of caging people for profit. LEXIS 50444. 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. All rights reserved. KESSLER TOPAZ MELTZER & CHECK, LLP 2023 ALL RIGHTS RESERVED. Goldberg Law PC announces that a class action lawsuit has been filed against Corrections Corporation of America .. | February 6, 2023. WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Credit Acceptance Corporation (NASDAQ: CACC) resulting from allegations that Credit Acceptance may have issued materially misleading business information to the investing public. 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. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. On May 31, 2019, Defendants and Plaintiff participated in another in-person mediation session with Mr. Lindstrom. They simply do not provide the same level of correctional services, programs, and resources, Yates said in making the announcement. For more information on this case or other class action litigations, please contact Adam Foulke at 203-987-4949 or info@battea.com. 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. securities between February 27, 2012 and August 17, 2016, inclusive, and who were damaged thereby. 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. The plaintiffs also alleged that the agreements violated the Sherman Anti-Trust Act, 15 U.S.C. 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. the matter and whether to establish an attorney client relationship. Whether anything actually comes of that remains to be seen. As a digital subscriber to Prison Legal News, you can access full text and downloads for this and other premium content. The complaint in this action was not filed by Kessler Topaz Meltzer & Check. 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. (888) 299-7706 New York, NY 10012, Main: 212-614-6464 For two years, CCR participated in a mediation process with defendants and the Special Enforcement unit of the FCC as required. 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. D. Seamus Kaskela, Esq. District Judge Gladys Kessler acknowledged the civil rights concerns, but referred the case to the Federal Communications Commission, under the doctrine of primary jurisdiction. 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. CCR filed a petition for rulemaking with the FCC. This action is still ongoing. 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. Filed: May 31, 2017 3:17-cv-01112-JLS-NLS. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. 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. The Stipulation (together with the Exhibits thereto) reflects the final and binding agreement between the Settling Parties. The Trump administration reversed course on the end of private prison contracts from the government. 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. 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 . Layn R. Phillips (Ret.). 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. Corrado Rizzi is the Senior Managing Editor of ClassAction.org. Judge Trauger found there was a strong case to be made that CoreCivic got off easy with respect to the OIG report. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. Are you a current or former employee of Corrections Corporation of America (2016)? 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. 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. Tenn.), Case No. In March of 2007, CCR and its partners filed an alternative rulemaking proposal. Check, Esq.D. He emphasized that CoreCivic believed the allegations in the lawsuit were without merit.. Join us on the front lines for social justice! Bell, Esq. It owns and operates prisons and jails, including immigration jails and "community corrections" centers, and uses forced prison labor. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. In short, the defendants profited from their unfair control over imprisoned people. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). 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. A trial is scheduled for May 18, 2021. Corrections Corporation of America Has Long History of Wage Violations, Poor Treatment of Employees. 7th Floor 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. For more information, visit Batteas Corrections Corporation of America case summary. 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. 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. Shares of Corrections Corp Of America (NYSE:CXW) declined from $27.38 per share to . The lawsuit was filed August 23, 2016, on behalf of the class of stock holders of CoreCivic, which trades on the New York Stock Exchange under the ticker symbol CXW. The class consisted of persons who held CCA stock between February 27, 2012 and August 17, 2016. 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. Corrections Corp Of America (NYSE:CXW) Investor Securities Class Action Lawsuit 08/23/2016. 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 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. 3:16-cv-02267 Honorable Aleta A. Trauger PROOF OF CLAIM AND RELEASE I. Corrections Corporation of America Securities Fraud Class Action | New Cases | Kessler Topaz Submit your Information 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"): 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. Fax: 212-614-6499. The Federal Communications Commission (FCC) finally approves new rules capping prison phone rates, ten years after Martha Wright filed her petition. . 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. 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. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. Status. The complaint in this action was not filed by Kessler Topaz Meltzer & Check. 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. Donations: 212-614-6448 LEXIS 50444. 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. 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"). -, Transcript : CoreCivic, Inc., Q4 2022 Earnings Call, Feb 09, 2023, CoreCivic's Q4 Adjusted Earnings, Revenue Decline. These exclusive dealing agreements allow defendants to use their control over a captive audience to unjustly enrich themselves. GENERAL INSTRUCTIONS 1. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. 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. Updated. you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss 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. For two years, CCR participated in a mediation process with defendants and the Special Enforcement unit of the FCC as required. For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com. 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 the second in-person mediation, the Settling Parties continued settlement discussions through Mr. Lindstrom and Hon. 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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. Frank Krogh, Doane Kiechel, and Jennifer Kostyu, Morrison & Forester LLP, Deborah Golden, D.C. Prisoners Project,Stephen Seliger and Laurie Elkin, Seliger & Elkin Ltd. the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. 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. The Settlement, if approved, will result in the creation of a cash settlement fund of $56,000,000.00 (the Settlement Amount). This was also true for its rehabilitative services in comparison with those provided by the BOP. Copyright 2023 Surperformance. 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. This is the only option that. The class specifically excluded CCA and CoreCivic officers named as defendants. 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.
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