Lawsuit for Investors in shares of Corrections Corp Of America (NYSE:CXW) announced by Shareholders Foundation

SAN DIEGO, Sept. 07, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in Tennessee on behalf of certain purchasers of shares of Corrections Corp Of America (NYSE:CXW) over alleged Securities Laws Violations by Corrections Corp Of America. The lawsuit seeks to recover damages for certain NYSE:CXW investors.

Investors who purchased shares of Corrections Corp Of America (NYSE:CXW) have certain options and for certain investors there are short and strict deadlines running. Deadline: October 24, 2016. NYSE:CXW investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that Corrections Corp Of America made certain allegedly false and/or misleading statements and/or allegedly failed to disclose, that Corrections Corp Of America’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 Corrections Corp Of America’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 Corp Of America, and that as a result of the above, Corrections Corp Of America’s public statements were materially false and misleading at all relevant times.

On August 18, 2016, the Justice Department announced its plans to end its use of private prisons after officials concluded that such facilities are both less safe and less effective at providing correctional services than those run by the government. The contract prisons are operated by three private corporations, including Corrections Corporation of America.

Shares of Corrections Corp Of America (NYSE:CXW) declined from $27.38 per share to $13.04 per share on August 18, 2016.

Those who purchased Corrections Corp Of America (NYSE:CXW) shares should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.