The court granted The GEO Group and its executives’ motion to dismiss lead individuals of the consolidated class’s amended complaint in part other than the statements about the pending lawsuit and against some of the executives: Evans, Donahue, and Schlarb. This case was the class action taken by individuals against the GEO Group and individuals who were and had been its executives, maintaining that GEO violated the Security Exchange Act of 1934 by making false and misleading statements about GEO’s financial situation and the implementation of the steps against Covid-19 in its facilities, and once the falsity of the statements became clear, the GEO’s stock declined in value, causing individuals and class members losses and damages. While some of the counts were dismissed, the court ordered plaintiffs to file an amended complaint sans allegations regarding puffery, corporate optimism, or opinion.
Hartel v. THE GEO Grp., Inc., No. 20-81063-CIV-SMITH, 2021 WL 4397841 (S.D. Fla Sept. 23. 2021)
DETAILS
Decision
Date
09/23/2021
Practice Area
Other
Practice Area
Class action
Relief Requested
Other, Remedy
Type of Court
Federal District Court
Location
Florida
Type of Case
Class Action
Compassionate Release Case
No
Case Tracking Number
9:20-cv-81063-RS
MORE CASE INFORMATION
Court Name
S.D. Fla.
Decision
Motions Partially Granted
Legal Authority
Other, The Securities Exchange Act of 1934
Case Status
Decision Made
Litigation Database
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