LOS ANGELES–(BUSINESS WIRE)–$BZH #CLASSACTION—Glancy
Prongay & Murray LLP (“GPM”), a national investors rights law
firm, announces that a class action lawsuit has been filed on behalf of
investors that acquired Beazer Homes USA, Inc. (“Beazer Homes” or the
“Company”) (NYSE: BZH)
securities between August 1, 2014 and May 2, 2019, inclusive (the
“Class Period”). Beazer Homes investors have until August 5, 2019 to
file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here
to participate.
If you wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire, at
310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected],
or visit our website at www.glancylaw.com.
On May 2, 2019, the Company issued a press release regarding its
financial and operating results for the second quarter of 2019,
reporting a net loss from continuing operations of $100.8 million for
the quarter reflective of a $147.6 million impairment on certain
California assets acquired by the Company before 2007. The assets in
question were currently and previously reported by the Company as land
held for future development.
On this news, the Company’s share price fell $1.73, or nearly 12%, to
close at $12.51 on May 3, 2019, thereby injuring investors.
The complaint filed in this class action alleges that throughout the
Class Period, Defendants made materially false and/or misleading
statements, as well as failed to disclose material adverse facts about
the Company’s business, operations, and prospects. Specifically,
Defendants failed to disclose to investors: (1) Beazer Homes California
assets classified as land held for future development were deteriorating
in value or improperly valuated; (2) the foregoing created a foreseeable
risk of an eventual substantial impairment that would negatively impact
the profitability of the Company; and (3) that, as a result of the
foregoing, Defendants’ positive statements about the Company’s business,
operations, and prospects were materially misleading and/or lacked a
reasonable basis.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased shares of Beazer Homes during the Class Period you may
move the Court no later than August 5, 2019 to ask the
Court to appoint you as lead plaintiff. To be a member of the Class you
need not take any action at this time; you may retain counsel of your
choice or take no action and remain an absent member of the Class. If
you wish to learn more about this action, or if you have any questions
concerning this announcement or your rights or interests with respect to
these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925
Century Park East, Suite 2100, Los Angeles California 90067 at
310-201-9150, Toll-Free at 888-773-9224, by email to [email protected],
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Contacts
Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy,
310-201-9150 or 888-773-9224
www.glancylaw.com
[email protected]
