CONTACT KTMC

Investor Class Action Filed Against Corrections Corporation of America for Securities Fraud Violations
Company Name: Corrections Corporation of America
Court: United States District Court for the Middle District of Tennessee
Case Number: 16-cv-02267
Judge: The Hon. Aleta A. Trauger
Class period: Between February 27, 2012 and August 17, 2016
Security Type: Common Stock

Case Background:

On August 23, 2016, the initial complaint in this securities class action was filed against Corrections Corporation of America (“CCA”) and certain of CCA’s top officials, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act. The Class Representative alleges that defendants engaged in a scheme to defraud and made numerous materially false and misleading statements and omissions to investors regarding CCA’s business and operations, including by falsely stating that: (i) the outsourcing of correctional services to CCA resulted in improving correctional services for government agencies, including the BOP; (ii) CCA’s facilities were operated “in accordance with” applicable policies, procedures and contractual requirements; (iii) CCA’s renewal rate on contracts was and would remain high because of the “quality” of services it provided to government customers; and (iv) the outsourcing of correctional services to CCA resulted in significant costs savings for government agencies, including the BOP.

On May 26, 2019, the Court certified the Class consisting of all persons who purchased or otherwise acquired Corrections Corporation of America. securities between February 27, 2012 and August 17, 2016, inclusive, and who were damaged thereby.

Current Status of Case:

The case is currently in discovery. Expert depositions are scheduled to conclude on October 30, 2020. A trial is scheduled for May 18, 2021. This action is still ongoing.

If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-844-887-9500 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com

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 James Maro, Jr., Esq. or Adrienne Bell, Esq. at 610.667.7706 or toll free at 844.887.9500, or you may submit your information via email at info@ktmc.com, or you may click here to print a PDF of this form.

* Denotes required field
 
 
 
 
 
# of Shares
Price per Share
 
 
 
Principal Amount
Amount Paid
Series or CUSIP
 
 
 
# of Contracts
Price per Contract
Exercise Price
Expiration Date
Did you purchase shares of Corrections Corporation of America (2016) prior to the Class Period?
Are you a current or former employee of Corrections Corporation of America (2016)?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
I agree to the KTMC
disclaimer
I would like to receive
new case alerts by email