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Corrections Corporation of America Message Board

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  • r7ualj r7ualj Mar 30, 1999 12:25 PM Flag

    Well, if misery likes company, I'll be w

    Copyright 1999 The Tennessean
    The
    Tennessean

    March 19, 1999, Friday CITY EDITION

    SECTION:
    BUSINESS,

    Pg. 4E,

    TENNESSEE STOCK


    LENGTH: 257 words

    HEADLINE: CCA CLASS-ACTION SUIT
    SETTLEMENT AWARDS PLAINTIFF LAWYERS $4.5 MILLION


    BYLINE: GETAHN WARD AND KEITH SNIDER STAFF WRITERS AND
    BLOOMBERG NEWS

    BODY:

    Plaintiff attorneys
    in a class-action lawsuit against Corrections
    corporation of America were awarded $4.5 million yesterday as
    part of a settlement of the case.

    The lawyers
    represented CCA shareholders who sued last April, over the
    structure of a deal under which the company was acquired by
    Prison Realty Corp.

    The case was settled in
    December when CCA, now part of Prison Realty, agreed to
    make certain adjustments to the transaction.


    Plaintiff attorneys, including Barrett, Johnston & Parsley
    of Nashville, sought a $9.5 million contingency fee,
    according to an order filed yesterday in Davidson County
    Chancery Court.

    Chancellor Ellen Hobbs Lyles
    awarded a $4 million contingency fee and $480,007 in
    expenses.

    Nashville-based Prison Realty's shares
    fell yesterday 6 cents to $19.63.

 
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