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Corrections Corporation of America Message Board

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  • wile_e99 wile_e99 Feb 25, 2000 10:51 AM Flag

    Public Safety & a new deal

    First, the expense of defending the lawsuits will
    not be paid by insurance. They will be paid by the
    corporation. Second, Doc, the other officers, and the board
    will be protected by an indemnity agreement providing
    that their expenses and damages will be paid by the
    corporation.

    In order to prove fraud in a civil case,
    the case would have to proceed to trial (unlikely)
    and would have to meet the heavy burden of proof for
    fraud. It is very unlikely that the corporation would
    let the cases go that far. A settlement short of
    trial would leave the issue of fraud undecided, and Doc
    would be indemnified.

    The Pac Life deal will
    also help get Doc off the hook, though I would hope
    that Pac Life will take charge enough to make sure
    that Doc isn't given a platinum parachute, and that
    new management is required.

    Wile E.

 
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