DEADLINE ALERT: Brower Piven Alerts Shareholders Of Upcoming Deadline In Class Action Lawsuit And Urges Those With Losses In ...
September 30 2016 - 1:25PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the United States District Court for the Southern
District of Florida on behalf of purchasers of The GEO Group, Inc.
(NYSE: GEO) (“GEO” or the “Company”) securities during the period
between March 1, 2012 and August 17, 2016, inclusive (the “Class
Period”). Investors who wish to become proactively involved in the
litigation have until October 24, 2016 to seek appointment as lead
plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from
investment in GEO securities during the Class Period. Members of
the Class will be represented by the lead plaintiff and counsel
chosen by the lead plaintiff. No class has yet been certified in
the above action.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that GEO’s facilities
lacked adequate safety and security standards and were less
efficient at offering correctional services than the Federal Bureau
of Prisons’ (“BOP”) facilities, GEO’s rehabilitative services for
inmates were less effective than those provided by BOP, and the
U.S. Department of Justice (“DOJ”) was unlikely to renew and/or
extend its contracts with GEO.
According to the complaint, following an August 18, 2016
announcement that the DOJ would end its use of private prisons,
including those operated by GEO, the value of GEO shares declined
significantly.
If you have suffered a loss in excess of $100,000 from
investment in GEO securities purchased on or after March 1, 2012
and held through the revelation of negative information during
and/or at the end of the Class Period and would like to learn more
about this lawsuit and your ability to participate as a lead
plaintiff, without cost or obligation to you, please visit our
website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. Brower Piven also encourages anyone with information
regarding the Company’s conduct during the period in question to
contact the firm, including whistleblowers, former employees,
shareholders and others.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If you
choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
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version on businesswire.com: http://www.businesswire.com/news/home/20160930005772/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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