NEW YORK--(BUSINESS WIRE)--
The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Corrections Corporation of America (NYSE:CXW) between February 27, 2012 and August 17, 2016. You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Middle District of Tennessee. To get more information go to:
http://www.zlk.com/pslra/corrections-corporation-of-america
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that the Company made false and/or misleading statements and/or failed to disclose: (a) 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; (b) that the Company’s rehabilitative services for inmates were less effective than the BOP’s services; (c) that the U.S. Department of Justice (“DOJ”) was unlikely to renew and/or extend its contracts with Corrections Corporation; (d) 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, the DOJ announced that it has decided to stop using private prisons, since they are less safe and less effective than federal government-run prisons.
If you suffered a loss in Corrections Corporation you have until October 24, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
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