May 6, 2009

Beazer Homes Settles

Beazer Homes USA, Inc. (NYSE: BZH), a Georgia-based homebuilder, has announced the preliminary settlement of the securities class action pending against the company in the N.D. Ga. The case, originally filed in March 2007, was one of the first subprime cases and stems from disclosures related to the company's loan origination practices.

The settlement is for $30.5 million and is being funded by the company's insurers. The D&O Diary has a comprehensive post on the settlement, including links to many of the key court documents.

Posted by Lyle Roberts at May 6, 2009 5:24 PM | TrackBack
Email this entry to:


Your email address:


Message (optional):