GEO Group (GEO) Says BOP Rescinded Previously Granted Contract Modification to Operate D. Ray James Correctional Facility

August 19, 2016 9:58 AM EDT

Find out which companies are about to raise their dividend well before the news hits the Street with's Dividend Insider Elite. Sign-up for a FREE trial here.

The GEO Group, Inc. (NYSE: GEO) announced that the Federal Bureau of Prisons (the “BOP”) has rescinded its previously granted contract modification extending GEO’s contract to operate the company-owned D. Ray James Correctional Facility (the “Facility”) under existing terms through September 30, 2018.

Based on ongoing discussions between GEO and the BOP, GEO expects to receive a new contract modification to operate the Facility under new terms to be negotiated. GEO will discuss this most recent development on its previously scheduled conference call at 11:00 AM (ET).

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Hot Corp. News, Momentum Movers, Trader Talk, Trading Halts

Related Entities


Add Your Comment