The Settlement, if approved, will result in the creation of a cash settlement fund of $56,000,000.00 (the Settlement Amount). 3:16-cv-02267, has been certified by the District Court as a class action; and Amalgamated Bank, as Trustee for . 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. In March of 2007, CCR and its partners filed an alternative rulemaking proposal. Kessler Topaz Meltzer & Check, LLPDarren J. New York, NY 10012, Main: 212-614-6464 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). 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. 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. $56 Million Settlement in CoreCivic Securities Violation Lawsuit No settlement was reached however, and on October 31, 2003, CCR filed a petition for rulemaking with the FCC. at (888) 299-7706 or at info@ktmc.com. 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. 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. 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. Date Filed. 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 is the only option that. Advanced search Log in. 3:16-cv-02267 (the "Litigation"), pending before the United States District Court for the Middle District of Tennessee (the "Court"). They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. These exclusive dealing agreements allow defendants to use their control over a captive audience to unjustly enrich themselves. (the "Stipulation") dated June 24, 2021, which can be found and downloaded by clicking on the Case Documents tab above. 7th Floor The case is currently in discovery. . 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. CCR and its partners filed an alternative rulemaking proposal requesting 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. Before commenting, please review our comment policy. 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. (888) 299-7706 The fact that CoreCivics stock eventually recovered was no defense to its alleged use of false statements and failure to disclose adverse information. 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. Filed Date: April 27, 2011 Closed Date: May 23, 2016 Clearinghouse coding complete . /PRNewswire/ -- Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in United States District Court for the Middle District of Tennessee. 07/28/2021. 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. Ordering the federal officials to not renew private prison contracts was one of the first acts President Biden made upon taking office. What went into DOJs decision? 3:16-cv-02267. Families, South Carolina Fails to Evacuate Prisoners Threatened by Hurricane, New York Sheriff Loses Lawsuit, Must Report Serious Prisoner Incidents to State Agency, South Carolina: Two Women Drown in Sheriffs Transport Van, Deputies Charged, New Mexico Riot Raises Questions About Private Prison Companys Competence, New Indianapolis Jail Will Not be Run by a Private Prison Company, but is Being Built on Contaminated Land, GEO Group Produces Litigation Documents After HRDC Files Public Records Suit, Imagine Pleading Guilty Because You Cant Afford to Call Your Lawyer, Canada: Long-Term Segregation of Mentally Ill Prisoners Unconstitutional; $20 Million in Damages, Federal Court Rules in Favor of HRDC in Virginia Jail Censorship Suit, Settlement Reached in Suit Over Failure to Keep Released L.A. County Prisoners from Becoming Homeless, I Had Nothing: How Parole Perpetuates a Cycle of Incarceration and Instability, Sixth Circuit Rules Suit May Proceed Where State Judge Offered Reduced Sentences for Sterilization, The Second Step: Invest in Prison Education Programs, Reinstate Pell Grants, Virginia Supreme Court Upholds Derivative Sovereign Immunity for Jail Physician, Fifth Circuit: No Qualified Immunity for Mississippi Sheriffs in Suit Over Mentally Ill Mans Years-long Unlawful Detention, Federal Judge Refuses to Shorten Corruption Sentence for Former Head of New York City Jail Guards Union, Fifth Circuit Denies Qualified Immunity to Mississippi Cops Who Let Injured Hemophiliac Bleed Out in Jail, Sixth Circuit: Unarmed Bank Robber Who Ordered Tellers to Get on the Floor Not Subject to Enhancement for Physical Restraint, Music Stops in Fifth Circuits Qualified Immunity Dance, Leaving Plaintiffs With Shortened Discovery Period, Fifth Circuit Holds PLRAs Three-Strikes Provision Does Not Apply to Actions Removed From State Court, Plainly Grossly Inadequate: Federal Court Finds Arizona Prison Healthcare Deliberately Indifferent to Prisoners Risk of Serious Harm, Eighth Circuit Says Judge Dismissing Claim of Federal Prisoner in Arkansas Was Premature in Counting It a PLRA Strike, After Federal Judge Censors Lawyers Tweets About CoreCivic, Company Settles Suit Over Tennessee Prisoners Murder by Cellmate, Class Certified in Orange Crush Shakedown Lawsuit by Illinois Prisoners, ICE Ignores Inspector Generals Call for Immediate Removal of Migrant Detainees from CoreCivic New Mexico Detention Facility, CoreCivic Workers Unionize and Go On Strike at Arizona Prison, Arizona Closing Prison, Moving Prisoners to CoreCivic Lockup, GED Cheating Scheme Uncovered at Montana CoreCivic Prison, Class of Juvenile Prisoners Certified in Suit Against Florida DOC, Federal Judge Allows Wiretapping Case to Proceed Against CoreCivic for Recording Attorney-Client Conversations at Nevada Prison, $405,000 Paid to Prisoner Disabled and Left Untreated at LaSalle-Managed Louisiana Jails, U.S.D.C. New to ClassAction.org? Delayed Nyse 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.. Layn R. Phillips (Ret.). Each of these contracts is subject to review by federal officials, but experts generally expect that few if any will be renewed. The contract prisons are operated by three private corporations, including Corrections Corporation of America. 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. Corrado Rizzi is the Senior Managing Editor of ClassAction.org. Title. Shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. 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. 3:16-cv-02267 Honorable Aleta A. Trauger . Check, Esq.D. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. 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.. The Stipulation (together with the Exhibits thereto) reflects the final and binding agreement between the Settling Parties. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. the matter and whether to establish an attorney client relationship. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
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