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Justice Department says it will end use of private prisons: Report

The Washington Post reported that the Justice Department is reportedly planning to stop using private prisons.

According to a memo from Deputy Attorney General Sally Yates obtained by the Post, officials have been instructed to not renew contracts with prison operators or diminish existing contracts.

Shares of GEO Group and Corrections Corporation of America were originally halted on the news, but have since reopened, falling more than 20 percent. Both...


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