While some corporations step up to fight COVID-19, private equity firms and their portfolio companies target incarcerated people and their families
NEW YORK, NY – On Monday, Worth Rises challenged prison service corporations that have used the COVID-19 pandemic as an opportunity exploit incarcerated people and their families. Worth Rises sent demand letters to the directors of five firms and submitted an emergency request to the Federal Communications Commission (FCC), urging the agency to ensure that incarcerated people and their families have access to free communication.
Worth Rises, along with the Private Equity Stakeholder Project, Color of Change, and the American Federation of Teachers, sent demand letters to five private equity firms that own corporations that have preyed upon incarcerated people, both before and during this pandemic. The letters demanded that the firms take immediate action to stop their portfolio corporations from exploiting incarcerated people and endangering the lives of countless people. The firms included: Platinum Equity, which owns Securus (telecom provider), JPay (financial services), and Satellite Tracking of People (electronic monitoring); HIG, which owns Wellpath (healthcare), TKC Holdings (food service, commissary, and telecom provider); American Securities, which owns GTL (telecom provider); BlueMountain, which owns Corizon (healthcare); and Apax Partners, which owns Attenti (electronic monitoring). The letters are available here.