NEW ORLEANS--(BUSINESS WIRE)--
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into CoreCivic, Inc. (NYSE: CXW).
CoreCivic, Inc. (formerly “Corrections Corporation of America”) owns and operates private prisons and other correctional facilities and inmate transportation services across the United States. On August 18, 2016, it was announced by U.S. Deputy Attorney General Sally Yates that the Department of Justice was discontinuing the use of private prisons, including those operated by the Company, citing concerns relating to insufficient safety measures and ineffective remedial services. Thereafter, the Company and certain of its executives were sued in securities class action lawsuits for failing to disclose material information relating to the true quality, efficiency and regulatory compliance of its facilities as well as the status of its governmental contracts, violating federal securities laws. The Company’s motion to dismiss the lawsuit was recently denied, allowing the consolidated case to proceed. Shareholder derivative lawsuits have also been filed against the Company’s executives and are pending.
KSF’s investigation focuses on whether CoreCivic’s officers and/or directors breached their fiduciary duties to CoreCivic’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of CoreCivic shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]).
About Kahn Swick & Foti, LLC
KSF, whose partners include Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
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