Johnson & Weaver, LLP Initiates Investigations of Mentor Graphics Corporation, Corrections Corporation of America, AAC Holdings, Inc., First NBC Bank Holding Company, and The GEO Group, Inc.; Encourages Long-Term Investors to Contact the Firm Regarding Their Legal Rights
SAN DIEGO, Sept. 3, 2016 /PRNewswire/ -- Shareholder Rights Law Firm Johnson & Weaver, LLP, is investigating potential claims against Mentor Graphics Corporation, Corrections Corporation of America, AAC Holdings, Inc., First NBC Bank Holding Company, and The GEO Group, Inc., as detailed below.
Mentor Graphics Corporation
Johnson & Weaver, LLP, is investigating potential violations of the federal securities laws by Mentor Graphics Corporation (NASDAQ: MENT) and certain of its officers. A securities class action lawsuit against the Company was filed on behalf of shareholders who purchased Mentor Graphics between August 21, 2014 and November 19, 2015, (the "Class Period").
Recently, the complaint was amended, setting forth new allegations of securities fraud including that Mentor Graphics and certain of its senior executives (collectively "Defendants") made materially false and misleading statements by misrepresenting or failing to disclose that: (1) Mentor Graphics had lost one of its largest emulation customers to a competitor; (2) the magnitude and impact of the loss of emulation business was significant, accounting for 60-70% of Mentor Graphics' total emulator sales; and (3) the pending launch of another competitor's emulation product was also causing customers to delay and cancel orders for Mentor Graphic products. Notably, the amended complaint alleges that Mentor Graphics' CEO/Chairman Walden Rhines and President/CFO Gregory Hinckley capitalized on the Company's artificially-inflated stock price during the Class Period by selling off a significant portion of their company stock holdings, resulting in insider proceeds of over $10.5 million.
If you have held Mentor Graphics shares continuously prior to August 21, 2014, you may have standing to hold Mentor Graphics harmless from the damage the officers and directors caused by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are a Mentor Graphics shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
Corrections Corporation of America
Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by Corrections Corporation of America ("CCA" or the "Company") (NYSE: CXW) and certain of its officers. A class action lawsuit against the Company has been filed on behalf of shareholders who purchased CCA stock between February 27, 2012 and August 17, 2016, (the "Class Period").
The complaint alleges that during the Class Period CCA made false and/or misleading statements and/or failed to disclose that: CCA's facilities lacked adequate safety and security standards and were less efficient at offering correctional services than the Federal Bureau of Prisons' ("BOP") facilities; the Company's rehabilitative services for inmates were less effective than the BOP's services; the U.S. Department of Justice ("DOJ") was unlikely to renew and/or extend its contracts with CCA; and as a result of the above, CCA's public statements were materially false and misleading at all relevant times. On August 18, 2016, Deputy Attorney General Sally Yates announced that the DOJ decided to stop using private prisons, since they are less safe and less effective than federal government-run prisons. When this news was announced, shares of CCA dropped in value.
If you have held CCA shares continuously prior to February 27, 2012, or if you have significant losses from stock purchases made between February 27, 2012 and August 17, 2016, inclusive, and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
AAC Holdings, Inc.
Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by AAC Holdings, Inc. (NYSE: AAC) and certain of its officers.
On July 1, 2016, a federal court denied a motion to dismiss a securities fraud class action filed against AAC and certain executives. According to the complaint, AAC deceived investors about an active criminal investigation by the California Department of Justice. The California DOJ's investigation ultimately materialized into an indictment against AAC for, inter alia, second-degree murder of an AAC patient. The complaint alleges that AAC deliberately disregarded the federal securities laws by concealing the criminal investigation into the circumstances surrounding the patient's death.
If you have held AAC shares continuously long-term, you may have standing to hold AAC harmless from the damage the officers and directors caused by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are an AAC shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
First NBC Bank Holding Company
Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by First NBC Bank Holding Company ("First NBC") (NASDAQ: FNBC) and certain of its officers. A class action lawsuit against the Company was filed on behalf of shareholders who purchased First NBC between May 10, 2013 and April 8, 2016, (the "Class Period").
The litigation concerns Defendants' alleged misrepresentations and failures to disclose that First NBC improperly accounted for its Federal and State Historic Rehabilitation tax credit entities, allegations that it overstated the carrying value of certain assets, allegations that it understated its oil and gas industry exposure, and allegations that its loss reserves were insufficient.
If you have held First NBC shares continuously prior to May 10, 2013, you may have standing to hold First NBC harmless from the damage the officers and directors caused by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are a First NBC shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
The GEO Group, Inc.
Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by The GEO Group, Inc. (NYSE: GEO) and certain of its officers. A class action lawsuit against the Company has been filed on behalf of shareholders who purchased GEO between March 1, 2012 and August 17, 2016, (the "Class Period").
The complaint alleges GEO made false and/or misleading statements and/or failed to disclose that: GEO's facilities lacked adequate safety and security standards and were less efficient at offering correctional services than the Federal Bureau of Prisons' ("BOP") facilities; the Company's rehabilitative services for inmates were less effective than the BOP's services; the U.S. Department of Justice ("DOJ") was unlikely to renew and/or extend its contracts with GEO; and as a result of the above, the complaint alleges that GEO's public statements were materially false and misleading at all relevant times. On August 18, 2016, Deputy Attorney General Sally Yates announced that the DOJ decided to stop using private prisons, since they are less safe and less effective than federal government-run prisons. When this news was announced to the public, shares of GEO fell in value, causing investors harm.
If you have held shares continuously prior to March 2012, you may have standing to hold GEO harmless from the damage the officers and directors caused by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are a GEO shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
[email protected]
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SOURCE Johnson & Weaver, LLP
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