IMPORTANT SHAREHOLDER ALERT: Khang & Khang LLP Announces Securities Class Action Lawsuit against Corrections Corp. of America...
August 25 2016 - 12:03PM
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 joon@khanglaw.com.
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
joon@khanglaw.com.
This press release may constitute Attorney Advertising in some
jurisdictions.
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version on businesswire.com: http://www.businesswire.com/news/home/20160825005950/en/
Khang & Khang LLPJoon M. Khang, Esq.Telephone:
949-419-3834Facsimile: 949-225-4474joon@khanglaw.com
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