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Law360, Miami (September 28, 2016, 9:13 PM EDT) — Private prison company GEO Group Inc. urged a Florida federal judge Wednesday to toss a putative class action accusing it of securities fraud, saying the claims are based on a “gross distortion” of the U.S. Department of Justice’s recent policy shift to phase out of private prisons, including those of GEO.

GEO Group’s 21-page motion to dismiss all claims slams plaintiff shareholder John J. Mulvaney’s suit as a thinly veiled attempt to capitalize on the dramatic drop in the company’s stock that followed the DOJ’s unexpected…

Source: Law360