Corrections Corporation of America/CoreCivic, Inc. Securities Litigation
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Welcome to the Corrections Corporation of America/CoreCivic, Inc. Securities Litigation Website

This website has been established to provide general information related to the CoreCivic, Inc. Securities Litigation.

This is a securities class action alleging violations of the Securities Exchange Act of 1934 brought against Corrections Corporation of America (“CCA”), now known as CoreCivic, Inc. (“CoreCivic”) and four of its current or former senior executives during the Class Period (defined below). The case is presently pending before the United States District Court for the Middle District of Tennessee (the “District Court”) and is captioned Grae v. Corrections Corporation of America, et al., Civil Action No. 3:16-cv-02267.

The District Court appointed Amalgamated Bank, as Trustee for the LongView Collective Investment Fund, as Lead Plaintiff, and then certified it as the Class Representative.

On March 26, 2019, the District Court certified claims in this lawsuit for class action treatment to be pursued by Lead Plaintiff and Class Representative on behalf of all Class Members. The Class is defined as:

All persons who purchased or otherwise acquired Corrections Corporation of America (“CCA”) [now CoreCivic] securities between February 27, 2012 and August 17, 2016, inclusive, and who were damaged thereby. Excluded from the Class are: (a) CCA [CoreCivic], its parents, subsidiaries and any other entity owned or controlled by CCA [CoreCivic]; (b) Damon T. Hininger, Todd J. Mullenger, and Harley G. Lappin;(c) all other executive officers and directors of CCA [CoreCivic] or any of its parents, subsidiaries or other entities owned or controlled by CCA [CoreCivic]; (d) all immediate family members of the foregoing, including grandparents, parents, spouses, siblings, children, grandchildren and steprelations of similar degree; and (e) all predecessors and successors in interest or assigns of any of the foregoing.

By certifying the Class, the District Court did not suggest that Plaintiff will win or lose this case. Lead Plaintiff will attempt to prove its claims in proceedings that have not yet occurred.

If you or someone acting on your behalf purchased or otherwise acquired CCA/CoreCivic securities during the Class Period, you may be a “Class Member” entitled to participate in any benefits that may eventually be obtained for the Class as a result of this Litigation.

Background and Description of the Litigation

This litigation is a securities class action alleging violations of the Securities Exchange Act of 1934 brought against CCA/Corecivic and certain of CCA/Corecivic's then-officers and/or directors during the Class Period. The case is presently pending before United States District Judge Aleta A. Trauger.

The District Court has not determined that Defendants did anything wrong and this Website is not an admission by Defendants or an expression of any opinion of the District Court concerning the merits of the litigation, or a finding by the Court that the claims asserted by the Lead Plaintiff in this litigation are valid.

Lead Plaintiff alleges that Defendants are liable because they materially misled CoreCivic investors in violation of §§10(b)and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Defendants moved to dismiss Lead Plaintiff’s Complaint, and the District Court denied that motion in its entirety on December 18, 2017. The remaining issues in this action include whether the Defendants (i) employed devices, schemes and artifices to defraud; made untrue statements of material fact and/or omitted to state material facts necessary to make the statements made not misleading; or engaged in acts, practices and a course of business that operated as a fraud or deceit upon the purchasers of CCA securities during the Class Period; (ii) whether the alleged misconduct caused investor losses and, if so, to what extent; and (iii) whether any Defendant who is not primarily liable is liable for having controlled a person who is primarily liable. Plaintiff seeks to recover money damages for members of the Class.

Defendants deny all of the claims asserted in the action and deny any liability to any members of the Class. Litigation is ongoing. No trial date has yet been set by the District Court.

Additional Information

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice of Pendency of Class Action which can be found and downloaded on the Case Documents page of this website. We recommend that you read the Notice and other relevant case documents carefully. You may also wish to read the answers to Frequently Asked Questions provided on this website. If you have not received a notice and would like to confirm that you are on the mailing list for further notice mailings in this matter, please contact the Notice Administrator and request that a notice be sent to you at your current mailing address.

Important Dates and Deadlines

Request Exclusion February 4, 2021