CoreCivic Recovers From Selloff as Justice Department Begins Probe Into Correctional Facility in Tennessee

01:13 PM EDT, 08/20/2024 (MT Newswires) -- CoreCivic (CXW) shares were up nearly 1% in recent Tuesday trading, reversing losses from earlier in the day after the US Justice Department said it was investigating conditions at a correction facility in Tennessee operated by the company.

The Justice Department opened an investigation into the conditions at the Trousdale Turner correctional center in Nashville, Tennessee, based on "an extensive review" that found "dangerous understaffing and safety concerns" at the largest correctional facility in the state.

The Justice Department cautioned that it had not reached any conclusions regarding the allegations in the matter.

CoreCivic did not immediately respond to a request for comment from MT Newswires.

Price: 12.97, Change: +0.10, Percent Change: +0.78