IRVINE, Calif.--(BUSINESS WIRE)--Khang & Khang LLP (the “Firm”) announces a class action lawsuit was filed against Corrections Corporation of America (“Corrections Corporation” or the “Company”) (NYSE: CXW). Investors who purchased or otherwise acquired shares between February 27, 2012 and August 17, 2016 inclusive (the “Class Period”), are encouraged to contact the Firm prior to the October 24, 2016 lead plaintiff motion deadline.
If you purchased shares of Corrections Corporation during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang LLP, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at firstname.lastname@example.org.
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
According to the complaint, 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 announced to the public, shares of Corrections Corporation dropped in value.
If you wish to learn more about this lawsuit, or if you have any questions regarding this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or via e-mail at email@example.com.
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