CoreCivic’s $56 Million Investor Deal Wins Final Court Approval

CoreCivic Inc. and investors who say it misled them about the quality of its private prison facilities secured final authorization for their $56 million settlement from a federal judge in Tennessee.

The cash deal “far exceeds the median recovery in securities class action settlements in 2020,” according to an investor memo filed in support of the final approval bid. The private detention and corrections services provider didn’t admit wrongdoing in settling, the U.S. District Court for the Middle District of Tennessee said.

Judge Aleta A. Trauger certified the investor class in 2019. The class consists of everyone who acquired ...