financetom
Business
financetom
/
Business
/
GEO Group to Receive US ICE Task Order Extending Funding for Adelanto Processing Center
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
GEO Group to Receive US ICE Task Order Extending Funding for Adelanto Processing Center
May 20, 2024 6:20 AM

08:53 AM EDT, 05/20/2024 (MT Newswires) -- GEO Group ( GEO ) said Monday that US Immigration and Customs Enforcement, or ICE, intends to issue a task order for continued funding of the Adelanto ICE Processing Center in California through Sept. 30.

The company said it and three unions filed motions to suspend orders limiting the use of the Adelanto Center due to COVID-19 conditions. The participants filed a renewed motion with the US Court of Appeals for the Ninth Circuit on April 22 to stay the orders, GEO added.

"The new task order will extend beyond the current 120-day task order issued on January 19 - effective February 19 to June 19 - and extends time available for the agency to realize potential relief from ongoing litigation that prevents full use of the facility," ICE spokesperson Jenny Burke said in a statement on the law enforcement agency's website Friday.

GEO said that it entered a 15-year contract with ICE in December 2019 for the Adelanto Center, including a 5-year base period and two 5-year option periods, generating about $85 million annually for GEO.

Price: 13.45, Change: +0.03, Percent Change: +0.22

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Once a beacon of stability, Vietnam to name third president in a year
Once a beacon of stability, Vietnam to name third president in a year
Mar 22, 2024
HANOI, March 22 (Reuters) - Communist-ruled Vietnam is seeking its third president in little more than a year after the resignation of Vo Van Thuong, who was only elected last year after the sudden dismissal of his predecessor. With accumulated foreign direct investment higher than its gross domestic product, Vietnam's stability is crucial to multinationals with large operations in the...
Cathie Wood's ARK Invest scoops up nearly 10,000 Reddit shares in debut
Cathie Wood's ARK Invest scoops up nearly 10,000 Reddit shares in debut
Mar 22, 2024
(Reuters) - Popular investor Cathie Wood's ARK Invest bought nearly 10,000 shares of Reddit ( RDDT ) in the social media platform's strong market debut on Thursday, an email from the asset manager showed. A total of 9,982 shares of the loss-making company was added to ARK Next Generation Internet ETF ( ARKW ) and ARK Fintech Innovation ETF (...
Hutchmed Begins Registration Stage for Phase 2/3 Trial of Investigational Autoimmune Disorder Drug
Hutchmed Begins Registration Stage for Phase 2/3 Trial of Investigational Autoimmune Disorder Drug
Mar 22, 2024
05:04 AM EDT, 03/22/2024 (MT Newswires) -- Hutchmed ( HCM ) said late Thursday it has started the registration stage for a phase 2/3 clinical trial of investigational drug sovleplenib for adult patients with warm antibody autoimmune hemolytic anemia in China. The move follows positive data from the proof-of-concept phase 2 stage of the trial and a consultation with the...
Japan's union group Rengo announces biggest wage hikes on record
Japan's union group Rengo announces biggest wage hikes on record
Mar 22, 2024
TOKYO (Reuters) -Japanese firms have agreed to raise pay by 5.25% this year, the biggest rise under comparable data since 2013, the country's largest union group Rengo confirmed on Friday. The results of the closely-watched wage negotiations are announced in several stages, in which the blue-chip firms are first to wrap up their talks in mid-March. The second announcement on...
Copyright 2023-2026 - www.financetom.com All Rights Reserved