August 22, 2016 (Shareholders Foundation) - An investigation on behalf of investors of The GEO Group Inc (NYSE:GEO) shares over potential securities laws violations by The GEO Group Inc and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of The GEO Group Inc (NYSE:GEO) concerning whether a series of statements by The GEO Group Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

The GEO Group Inc reported that its annual Total Revenue rose from over $1.47 billion in 2012 to over $1.52 billion in 2013 while its Net Income declined from $134.75 million in 2012 ro $115.14 million in 2013.

Shares of The GEO Group Inc (NYSE:GEO) grew from $31.72 per share in March 2014 to as high as $45.19 per share in March 2015.

On August 18, 2016, the Justice Department announced its plans to end its use of private prisons after officials concluded that such facilities are both less safe and less effective at providing correctional services than those run by the government. The contract prisons are operated by three private corporations, including GEO Group.

Shares of The GEO Group Inc (NYSE:GEO) declined on August 18, 2016, to as low as $16.26 per share.