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GEO.US
id: 722

GEO Group (GEO) $3M Investor Settlement

It is still possible to file a late claim. The court will decide whether to accept late claims or not.
S.D. Florida
Court
9:20-cv-81063
Case number
09 Nov 2018
Class period Start
05 Aug 2020
Class period End
28 Nov 2023
Claim deadline
GEO 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:
  1. GEO Group maintained woefully ineffective COVID-19 response procedures;
  2. those inadequate procedures subjected residents of the Company’s halfway houses to significant health risks;
  3. 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.
Case Status
Accepting Late Claims
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.055
Filing date
07 July 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
14 November 2023
Exclusion deadline
17 October 2023
Objection deadline
17 October 2023
Hearing deadline
17 October 2023
+$3,000,000
Cash Settlement Amount