LOS ANGELES, Aug. 20, 2020 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming September 8, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of The Geo Group, Inc. (“GEO Group” or the “Company”) (NYSE: GEO) investors who purchased securities between February 27, 2020 and June 16, 2020, inclusive (the “Class Period”).
If you suffered a loss on your GEO Group investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/the-geo-group-inc/.You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.
On June 17, 2020, The Intercept published an article entitled "GEO Group’s Blundering Response to the Pandemic Helped Spread Coronavirus in Halfway Houses." The article described details of a significant COVID-19 outbreak at the Grossman Center, a halfway house in Leavenworth, Kansas, operated by GEO Group—which "was for weeks the hardest hit federal halfway house in the country" in terms of confirmed cases of COVID-19. Citing interviews with residents of the Grossman Center, The Intercept characterized GEO Group’s response as "blundering" and reported "that the virus spread not in spite of the facility’s efforts to contain it, but because of it." According to the article, the Grossman Center continued to keep its residents in overcrowded conditions without implementing personal protective measures even as COVID-19 diagnoses at the facility increased.
On this news, the Company’s share price fell $1.03 per share, or 7%, to close at $12.17 per share on June 17, 2020, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that GEO Group maintained woefully ineffective COVID-19 response procedures; (2) that those inadequate procedures subjected residents of the Company’s halfway houses to significant health risks; (3) that accordingly, the Company was vulnerable to significant financial and/or reputational harm; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Follow us for updates on LinkedIn, Twitter, or Facebook.
If you purchased or otherwise acquired GEO Group securities during the Class Period, you may move the Court no later than September 8, 2020 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com
