Private Prison Shareholders’ Lawsuit Alleges COVID-19 False and Misleading Statements

In what could become a new COVID-19 litigation strategy, a shareholder class action lawsuit was filed recently against a publicly-traded prison and reentry facility management company, Geo Group, claiming violations of the Securities and Exchange Act of 1934. The shareholder plaintiff alleges that Geo Group misled investors about its COVID-19 precautionary measures in Securities and Exchange Commission (SEC) filings and other actions. The class action seeks damages on behalf of Geo Group’s shareholders for harm suffered via stock price drops.

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