CoreCivic derivative settlement preliminarily approved; $3.5M attorneys' fees, governance reforms

CoreCivic, Inc.

Court granted preliminary approval of derivative settlement on Sept 19, 2022; final hearing Dec 1, 2022.
Settlement requires CoreCivic to adopt corporate governance reforms for at least 4 years.
CoreCivic pays $3.5M in plaintiffs' attorneys' fees; liability was accrued as of June 30, 2022.
Settlement resolves multiple derivative actions including In re CoreCivic, Friedmann, Delgrosso, Whitehead.
Individual defendants deny all allegations; no admission of liability or wrongdoing.

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