LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC (the “Firm”) announces that a class action lawsuit has been filed against The GEO Group, Inc. (“GEO” or the “Company”) (NYSE: GEO). Investors who purchased or otherwise acquired shares between March 1, 2012 and August 17, 2016 (the “Class Period”) are encouraged to contact the Firm in advance of the October 24, 2016 lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate. In addition, we advise you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights without cost to you. You can also reach us through the firm’s website at http://www.Goldberglawpc.com, or by email at email@example.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and/or misleading statements and/or failed to disclose: that GEO’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 GEO; and that as a result of the above, GEO’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, shares of GEO dropped in value.
Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
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