Latest news with #GEOGroup
Business Wire
8 hours ago
- Business
- Business Wire
The GEO Group Announces It Has Entered Into a Purchase Agreement to Sell Company-Owned Lawton Correctional Facility in Oklahoma for $312 Million
BUSINESS WIRE)-- The GEO Group, Inc. (NYSE: GEO) ('GEO' or the 'Company') announced today that it has entered into a purchase agreement with the Oklahoma Department of Corrections for the sale of the GEO-owned Lawton Correctional Facility (the 'Facility') located in Lawton, Oklahoma for $312 million. The sale of the Facility is expected to close on July 25, 2025, subject to the satisfaction of customary closing conditions, and GEO expects to transition Facility operations to the Oklahoma Department of Corrections simultaneously on July 25, 2025. GEO expects to use the net proceeds from the sale of the Facility to pay down debt and for general corporate purposes. George C. Zoley, Executive Chairman of GEO, said, 'The sale of our Company-owned Lawton Correctional Facility is expected to be a significant deleveraging event for our Company. We believe that this important transaction is representative of the intrinsic value of our Company-owned facilities, which total more than 52,000 beds. Our Management Team and Board of Directors remain focused on the disciplined allocation of capital to enhance long-term value for our shareholders.' About The GEO Group The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO's diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO's worldwide operations include the ownership and/or delivery of support services for 98 facilities totaling approximately 77,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 18,000 employees. Use of forward-looking statements This news release may contain 'forward-looking statements' within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the cautionary statements and risk factors contained in GEO's filings with the U.S. Securities and Exchange Commission including its Form 10-K, 10-Q and 8-K reports. All forward-looking statements speak only as of the date of this news release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Readers are strongly encouraged to read the full cautionary statements and risk factors contained in GEO's filings with the U.S. Securities and Exchange Commission, including those referenced above. GEO disclaims any obligation to update or revise any forward-looking statements, except as required by law.
Yahoo
8 hours ago
- Business
- Yahoo
The GEO Group Announces It Has Entered Into a Purchase Agreement to Sell Company-Owned Lawton Correctional Facility in Oklahoma for $312 Million
BOCA RATON, Fla., June 05, 2025--(BUSINESS WIRE)--The GEO Group, Inc. (NYSE: GEO) ("GEO" or the "Company") announced today that it has entered into a purchase agreement with the Oklahoma Department of Corrections for the sale of the GEO-owned Lawton Correctional Facility (the "Facility") located in Lawton, Oklahoma for $312 million. The sale of the Facility is expected to close on July 25, 2025, subject to the satisfaction of customary closing conditions, and GEO expects to transition Facility operations to the Oklahoma Department of Corrections simultaneously on July 25, 2025. GEO expects to use the net proceeds from the sale of the Facility to pay down debt and for general corporate purposes. George C. Zoley, Executive Chairman of GEO, said, "The sale of our Company-owned Lawton Correctional Facility is expected to be a significant deleveraging event for our Company. We believe that this important transaction is representative of the intrinsic value of our Company-owned facilities, which total more than 52,000 beds. Our Management Team and Board of Directors remain focused on the disciplined allocation of capital to enhance long-term value for our shareholders." About The GEO GroupThe GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO's diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO's worldwide operations include the ownership and/or delivery of support services for 98 facilities totaling approximately 77,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 18,000 employees. Use of forward-looking statementsThis news release may contain "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the cautionary statements and risk factors contained in GEO's filings with the U.S. Securities and Exchange Commission including its Form 10-K, 10-Q and 8-K reports. All forward-looking statements speak only as of the date of this news release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Readers are strongly encouraged to read the full cautionary statements and risk factors contained in GEO's filings with the U.S. Securities and Exchange Commission, including those referenced above. GEO disclaims any obligation to update or revise any forward-looking statements, except as required by law. View source version on Contacts Pablo E. Paez, (866) 301 4436Executive Vice President, Corporate Relations Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
a day ago
- General
- Yahoo
Newark mayor sues N.J. DA over being arrested last month
June 4 (UPI) -- The Democratic mayor of Newark, Ras Baraka, has sued the Republican U.S. district attorney of New Jersey over his arrest last month outside of a prison being transformed into a detention facility to hold migrants arrested in the Trump administration's immigration crackdown. The lawsuit, announced Tuesday, accuses District Attorney Alina Habba and Special Agent in Charge Ricky Patel of the Newark Division of Homeland Security Investigations of violating Baraka's rights by arresting him without cause, initiating a malicious prosecution and committing defamation. "They abused their power to violently arrest me at Delaney Hall despite being invited inside," Baraka said in a statement Tuesday. "No one is above the law." Baraka was arrested on May 9 outside Delaney Hall, a Newark prison owned by GEO Group, which in February signed a contract with Immigration and Customs Enforcement to house migrants at the 1,000-bed center for 15 years. Habba accused Baraka of trespassing at the facility and claimed he was arrested after allegedly "ignored multiple warnings from Homeland Security Investigations to remove himself from the ICE detention center. "He has willingly chosen to disregard the law," she said on X following Baraka's arrest. "That will not stand in this state." Habba -- formerly a lawyer for President Donald Trump, who appointed her to her current position in New Jersey -- announced last month she was dropping the charges against Baraka "for the sake of moving forward." According to the lawsuit, Baraka was at the prison at the invitation of Rep. LaMonica McIver, one of three Democratic New Jersey House representatives visiting Delaney Hall that day to inspect it. Baraka arrived at Delaney Hall at about 1:42 p.m. EDT and spoke with members of the public protesting the Trump administration's immigration policies. At 1:50 p.m. a GEO Group guard invited Baraka to enter the inner gate of Delaney Hall, which the mayor did. He waited there for about 40 minutes, apparently for the Democratic lawmakers inside the facility. According to the lawsuit, Patel confronted Baraka at 2:33 p.m., and told him to leave. Baraka argued he was invited in by the guard, which Patel disputed, the court documents state. Minutes later, the members of Congress exited the facility after witnessing the confrontation between the two and informed Patel that they had wanted Baraka there. "After the members of Congress conveyed their thoughts, Defendant Patel threatened to arrest the Mayor," the lawsuit states. "In response, the Mayor said: 'I'm leaving now.'" Baraka was arrested by about 20 DHS agents, some masked, about 5 minutes after he left the GEO Group property, according to the filing. "Egged on by Defendant Patel, who ordered the DHS agents to 'take him down' (meaning violently tackle the Mayor of Newark) the agents pushed, shoved and assaulted the Mayor's security team and members of Congress before violently pulling Mayor Baraka's arms and arresting him without probable cause," the lawsuit states. "The DHS agents handcuffed the Mayor behind his back in an effort to effect maximum humiliation for what Defendant Habba's office later admitted was an alleged 'petty offense.'" The lawsuit, which is seeking compensatory and punitive damages, also accuses Habba of having a political agenda to forward Trump's immigration policies and to help Republicans in the state. When Habba told the court she was ending the prosecution of Baraka, federal Judge Andre Espinosa admonished the district attorney. "The hasty arrest of Newark Mayor Ras Baraka, followed swiftly by the dismissal of the trespassing charges a mere 13 days later, suggests a worrisome misstep by your office," Espinosa said. "An arrest, particularly of a public figure, is not a preliminary investigative tool. It is a severe action, carrying significant reputational and personal consequences, and it should only be undertaken after a thorough, dispassionate evaluation of credible evidence." On Monday, after learning of Baraka's intention to sue her, Habba retorted: "My advice to the mayor -- feel free to join me in prioritizing violent crime and public safety. Far better use of time for the great citizens of New Jersey." Habba later last month filed charges of assaulting law enforcement against McIver in connection with Baraka's arrest. Baraka has voiced solidarity with McIver, and McIver described the charges against her as "purely political."
UPI
a day ago
- General
- UPI
Newark mayor sues N.J. DA over being arrested last month
Newark Mayor Ras Baraka has filed a lawsuit against New Jersey District Attorney Alina Habba over his arrest last month. Photo by Justin Lane/UPI | License Photo June 4 (UPI) -- The Democratic mayor of Newark, Ras Baraka, has sued the Republican U.S. district attorney of New Jersey over his arrest last month outside of a prison being transformed into a detention facility to hold migrants arrested in the Trump administration's immigration crackdown. The lawsuit, announced Tuesday, accuses District Attorney Alina Habba and Special Agent in Charge Ricky Patel of the Newark Division of Homeland Security Investigations of violating Baraka's rights by arresting him without cause, initiating a malicious prosecution and committing defamation. "They abused their power to violently arrest me at Delaney Hall despite being invited inside," Baraka said in a statement Tuesday. "No one is above the law." Baraka was arrested on May 9 outside Delaney Hall, a Newark prison owned by GEO Group, which in February signed a contract with Immigration and Customs Enforcement to house migrants at the 1,000-bed center for 15 years. Habba accused Baraka of trespassing at the facility and claimed he was arrested after allegedly "ignored multiple warnings from Homeland Security Investigations to remove himself from the ICE detention center. "He has willingly chosen to disregard the law," she said on X following Baraka's arrest. "That will not stand in this state." Habba -- formerly a lawyer for President Donald Trump, who appointed her to her current position in New Jersey -- announced last month she was dropping the charges against Baraka "for the sake of moving forward." According to the lawsuit, Baraka was at the prison at the invitation of Rep. LaMonica McIver, one of three Democratic New Jersey House representatives visiting Delaney Hall that day to inspect it. Baraka arrived at Delaney Hall at about 1:42 p.m. EDT and spoke with members of the public protesting the Trump administration's immigration policies. At 1:50 p.m. a GEO Group guard invited Baraka to enter the inner gate of Delaney Hall, which the mayor did. He waited there for about 40 minutes, apparently for the Democratic lawmakers inside the facility. According to the lawsuit, Patel confronted Baraka at 2:33 p.m., and told him to leave. Baraka argued he was invited in by the guard, which Patel disputed, the court documents state. Minutes later, the members of Congress exited the facility after witnessing the confrontation between the two and informed Patel that they had wanted Baraka there. "After the members of Congress conveyed their thoughts, Defendant Patel threatened to arrest the Mayor," the lawsuit states. "In response, the Mayor said: 'I'm leaving now.'" Baraka was arrested by about 20 DHS agents, some masked, about 5 minutes after he left the GEO Group property, according to the filing. "Egged on by Defendant Patel, who ordered the DHS agents to 'take him down' (meaning violently tackle the Mayor of Newark) the agents pushed, shoved and assaulted the Mayor's security team and members of Congress before violently pulling Mayor Baraka's arms and arresting him without probable cause," the lawsuit states. "The DHS agents handcuffed the Mayor behind his back in an effort to effect maximum humiliation for what Defendant Habba's office later admitted was an alleged 'petty offense.'" The lawsuit, which is seeking compensatory and punitive damages, also accuses Habba of having a political agenda to forward Trump's immigration policies and to help Republicans in the state. When Habba told the court she was ending the prosecution of Baraka, federal Judge Andre Espinosa admonished the district attorney. "The hasty arrest of Newark Mayor Ras Baraka, followed swiftly by the dismissal of the trespassing charges a mere 13 days later, suggests a worrisome misstep by your office," Espinosa said. "An arrest, particularly of a public figure, is not a preliminary investigative tool. It is a severe action, carrying significant reputational and personal consequences, and it should only be undertaken after a thorough, dispassionate evaluation of credible evidence." On Monday, after learning of Baraka's intention to sue her, Habba retorted: "My advice to the mayor -- feel free to join me in prioritizing violent crime and public safety. Far better use of time for the great citizens of New Jersey." Habba later last month filed charges of assaulting law enforcement against McIver in connection with Baraka's arrest. Baraka has voiced solidarity with McIver, and McIver described the charges against her as "purely political."
3 days ago
- Business
Supreme Court to hear private prison company appeal in suit over immigration detainee $1-a-day wages
WASHINGTON -- The Supreme Court agreed Monday to hear an appeal from a private prison company facing a lawsuit claiming immigration detainees were forced to work and paid a $1 a day in Colorado. The GEO Group appealed to the high court after a judge refused to toss out the 2014 lawsuit saying the detainees had to perform both unpaid janitorial work and other jobs for little pay to supplement meager meals. The company says the lawsuits are really a back door way to push back against federal immigration policy, and its pay rates are in line with Immigration and Customs Enforcement regulations. They say the migrants can't sue because it's running Aurora, Colorado, facility on behalf of the government, which is immune from such lawsuits. Attorneys for the migrants say the lawsuit is only about people being paid 'almost nothing' for their work, and the contract didn't require them to pay so little. A lower court judge allowed the lawsuit to go forward and the U.S. 10th Circuit Court of Appeals found it couldn't review the immunity claim before trial. The GEO Group argued to the Supreme Court that government contractors should be able to argue that issue on appeal quickly. The Florida-based GEO Group is one of the top private detention providers in the country, with management or ownership of about 77,000 beds at 98 facilities. Its contracts include a new federal immigration detention center where Newark Mayor Ras Baraka was arrested at a protest in May. Similar lawsuits have been brought on behalf of immigration detainees elsewhere, including a Washington state case where the company was ordered to pay more than $23 million.
