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Lawsuit filed for Investors in shares of The GEO Group, Inc. (NYSE: GEO) over alleged Securities Laws Violations

07-16-2020 02:39 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in The GEO Group, Inc. (NYSE: GEO) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in The GEO Group, Inc. (NYSE: GEO) shares over alleged securities laws violations.

An investor, who purchased shares of The GEO Group, Inc. (NYSE: GEO), filed a lawsuit over alleged violations of Federal Securities Laws by The GEO Group, Inc..

Investors who purchased shares of The GEO Group, Inc. (NYSE: GEO) have certain options and for certain investors are short and strict deadlines running. Deadline: September 7, 2020. NYSE: GEO investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On June 17, 2020, during pre-market hours, The Intercept published an article entitled "GEO Group's Blundering Response to the Pandemic Helped Spread Coronavirus in Halfway Houses." The article reported 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 enforcing personal protective measures even as COVID-19 diagnoses at the facility increased.

Shares of The GEO Group, Inc. (NYSE: GEO) declined from $18.42 per share on early February 12, 2020 to as low as $10.95 per share on June 26, 2020.

The plaintiff claims that between February 27, 2020, and June 16, 2020, the defendants made false and/or misleading statements and/or failed to disclose that GEO Group maintained woefully ineffective COVID-19 response procedures, that those inadequate procedures subjected residents of the Company's halfway houses to significant health risks, that accordingly, the Company was vulnerable to significant financial and/or reputational harm, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of The GEO Group, Inc. (NYSE: GEO) have certain options and should contact the Shareholders Foundation.

About:
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

Contact:
Shareholders Foundation, Inc.
Christopher Clausen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

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