GEO.US
id: 722
GEO Group (GEO) $3M Investor Settlement
S.D. Florida
Court9:20-cv-81063
Case number11/09/2018
Class period Start08/05/2020
Class period End11/28/2023
Claim deadlineGEO Group (GEO) settles $3M with shareholders to avoid further litigation.
The original complaint alleges that the Company and its Leaders made materially false and misleading statements regarding the Company’s business, operations, and compliance policies, specifically:
- GEO Group maintained woefully ineffective COVID-19 response procedures;
- those inadequate procedures subjected residents of the Company’s halfway houses to significant health risks;
- the Company was vulnerable to significant financial and/or reputational harm; and
- as a result, the Company’s public statements were materially false and misleading at all relevant times.
Case Status
Disbursement
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.055
Filing date
07/07/2020
Plaintiffs
James Michael DeLoach, Edward Oketola
Attorneys
Levi & Korsinsky LLP, Freedman Nonnand Friedland LLP, Cullin O'Brien Law, P.A., The Schall Law Firm
Defendants
George C. Zoley
Judge
Hon. Rodney Smith
Administrator
EPIQ
Court hearing date
11/14/2023
Exclusion deadline
10/17/2023
Objection deadline
10/17/2023
Hearing deadline
10/17/2023
Trades matching type
FIFO
Disbursement date
11/07/2024
+$3,000,000
Cash Settlement Amount