Berman Tabacco

Prison Realty

In re Prison Realty Securities Litigation, No. 3:99-cv-0452 (M.D. Tenn.) (In re Old CCA Securities Litigation, No. 3:99-cv-0458)

Berman Tabacco represented the former shareholders of Corrections Corporation of America, which merged with another company to form Prison Realty Trust, Inc. The action charged that the registration statement issued in connection with the merger contained untrue statements. Overcoming arguments that the class’ claims of securities fraud were released in prior litigation involving the merger, the firm successfully defeated the motions to dismiss. It subsequently negotiated a global settlement of approximately $120 million in cash and stock for this case and other related litigation.

Case Information

  • Settlement Amount:
    $120 million