A lawsuit was filed on behalf of investors in Corrections Corp Of America (NYSE:CXW) shares over alleged securities laws violations. Deadline: October 24, 2016. NYSE:CXW investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/30/2016 -- An investor, who purchased shares of Corrections Corp Of America (NYSE:CXW), filed a lawsuit in Tennessee over alleged Securities Laws violations by Corrections Corp Of America in connection with certain allegedly false and misleading statements made between February 27, 2012 and August 17, 2016.
Investors who purchased shares of Corrections Corp Of America (NYSE:CXW) have certain options and for certain investors are short and strict deadlines running. Deadline: October 24, 2016. NYSE:CXW investors should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The plaintiff claims that between February 27, 2012 and August 17, 2016 Corrections Corp Of America made false and/or misleading statements and/or failed to disclose, that Corrections Corp Of America'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 Corrections Corp Of America'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 Corp Of America, and that as a result of the above, Corrections Corp Of America's public statements were materially false and misleading at all relevant times.
On August 18, 2016, the Justice Department announced its plans to end its use of private prisons after officials concluded that such facilities are both less safe and less effective at providing correctional services than those run by the government. The contract prisons are operated by three private corporations, including Corrections Corporation of America. Shares of Corrections Corp Of America (NYSE:CXW) declined from $27.38 per share to $13.04 per share on August 18, 2016.
On August 29, 2016, NYSE:CXW shares closed at $16.79 per share.
Those who purchased shares of Corrections Corp Of America have certain options and should contact the Shareholders Foundation.
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