The California Endowment Will Stop Investing in Private Prison Companies (GEO) (CXW)

The California Endowment announced today that it will no longer make direct investments of its endowment funds in companies that derive significant annual revenue from the operation of private prisons, jails, detention centers and correctional facilities.

“The California Endowment strongly supports community safety and stands with communities that experience serious disparities in incarceration rates for non-violent offenses that could be handled through drug treatment and other programs that help prevent non-violent crime,” said Robert K. Ross, MD, president and CEO of The California Endowment. “It is essential our investment strategies take into account the potential impacts they could have on the communities we serve.”

Related Stocks:

Corrections Corporation of America (NYSE: CXW)
GEO Group (NYSE: GEO)

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