IMPORTANT INVESTOR ALERT: Lundin Law PC Announces Securities Class Action Lawsuit against Corrections Corp. of America & Enco...
August 24 2016 - 2:37PM
Business Wire
Lundin Law PC (the “Firm”) announces a class action lawsuit has
been filed against Corrections Corporation of America ("Corrections
Corporation" or the "Company") (NYSE: CXW) concerning possible
violations of federal securities laws between February 27, 2012 and
August 17, 2016 (the “Class Period”). Investors, who purchased or
otherwise acquired shares during the Class Period, should contact
the Firm in advance of the October 24, 2016 lead plaintiff
motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esquire, of Lundin Law PC, at
888-713-1033, or e-mail him at brian@lundinlawpc.com.
No class has been certified in the above action. Until a class
is certified, you are not considered represented by an attorney.
You may also choose to do nothing and be an absent class
member.
The complaint alleges that during the Class Period, the Company
made false and/or misleading statements and/or failed to disclose:
that Corrections Corporation’s facilities lacked adequate safety
and security standards and were less efficient at offering
correctional services than the Federal Bureau of Prisons’ (“BOP”)
facilities; that the Company’s rehabilitative services for inmates
were less effective than the BOP’s services; that the U.S.
Department of Justice (“DOJ”) was unlikely to renew and/or extend
its contracts with Corrections Corporation; and that as a result of
the above, Corrections Corporation’s public statements were
materially false and misleading at all relevant times. On August
18, 2016, Deputy Attorney General Sally Yates announced that the
DOJ decided to stop using private prisons, since they are less safe
and less effective than federal government-run prisons. When this
news was released, shares of Corrections Corporation fell in value,
causing investors harm.
Lundin Law PC was founded by Brian Lundin, a securities
litigator based in Los Angeles dedicated to upholding shareholders’
rights.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20160824006089/en/
Lundin Law PCBrian Lundin, Esq.Telephone: 888-713-1033Facsimile:
888-713-1125brian@lundinlawpc.comhttp://lundinlawpc.com/
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