Canada

CoreCivic: Climbs after reaching agreement to settle lawsuit

** Shares of prison operator CoreCivic Inc up as much as 4.42% at $8.5

** Co says it has reached an agreement in principle to settle a lawsuit filed in the U.S. District Court in 2016 against CXW and some of its current and former officers

** The lawsuit was filed after co’s stock price shrunk following issuance of a memorandum in 2016, from the Department of Justice instructing the Federal Bureau of Prisons to reduce and ultimately end the use of privately operated prisons

** The monetary terms of the settlement include a payment by CoreCivic of $56 mln

** Up to last close, stock up ~29% YTD (Reporting by Rithika Krishna in Bengaluru)

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