One lone shareholder is on a crusade to force America’s largest private prison corporation to publish records on sexual abuse
By Sadhbh Walshe | March 1, 2012 | The Guardian UK
Alex Friedmann, the associate editor of the monthly magazine Prison Legal News, once served six years at a private prison run by the Corrections Corporation of America (CCA), the country’s largest for-profit prison company. Friedmann now owns 191 shares of CCA stock, just enough to allow him to introduce a stockholder resolution.
His recent proposal that the CCA’s board of directors (pdf) provide biannual reports to their stockholders about the company’s efforts to reduce incidents of rape and sexual abuse in their facilities was greeted with outright horror by the CCA, which immediately wrote to the US Securities and Exchange Commission (SEC) asking to be allowed to omit the proposal from their proxy materials. Continue reading