GEO Group (GEO) Says BOP Rescinded Previously Granted Contract Modification to Operate D. Ray James Correctional Facility

August 19, 2016 9:58 AM EDT

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The GEO Group, Inc. (NYSE: GEO) announced that the Federal Bureau of Prisons (the “BOP”) has rescinded its previously granted contract modification extending GEO’s contract to operate the company-owned D. Ray James Correctional Facility (the “Facility”) under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

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