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Suit against Private Prison Operator for Self-Dealing Remanded

On July 8, 2011, the U.S. Court of Appeals for the Tenth Circuit reversed and remanded for further proceedings a shareholder action brought against a private prison operator.

Ravenswood Investment Company (RIC), a limited partner to Avalon Correctional Services, sued Avalon alleging that the CEO of Avalon, Donald Smith, had ...

 

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