The FBP awarded the contracts to Prison Realty Trust Inc., which builds and manages prisons. CCA is the primary tenant, and the sister company, of the firm. N.M. Each contract is for three years with seven one-year options. The Milwaukee Journal Sentinel reported that Wall Street analysts see the situation at Prison Realty as increasingly bleak.
Shareholders are at risk because the company appears headed for bankruptcy.
The company is already fighting a number of shareholder lawsuits.