NEW YORK–(BUSINESS WIRE)–Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, is reminding investors of a federal class action lawsuit pending in the United States District Court for the Southern District of New York against Beazer Homes USA, Inc. (“Beazer Homes” or the “Company”) (NYSE: BZH) and the August 5, 2019 deadline to move for lead plaintiff.
If you purchased Beazer Homes shares between August 1, 2014 and May 2, 2019, inclusive (the “Class Period”), and have suffered a loss, realized or unrealized, you are encouraged to contact Scott+Scott attorney Joe Pettigrew at (844) 818-6982, or at [email protected] for more information.
According to the Complaint, Beazer Homes and other named defendants made false and misleading statements and failed to disclose that: (i) Beazer Homes’ California assets classified as land held for future development were deteriorating in value or improperly valuated; (ii) the foregoing created a foreseeable risk of an eventual substantial impairment that would negatively impact the profitability of the Company; and (iii) as a result, the Beazer Homes’ public statements were materially false and misleading at all relevant times.
The Complaint further notes how on May 2, 2019, Beazer Homes announced a net loss from continuing operations of $100.8 million for the quarter, which reflected a $147.6 million impairment on certain California assets the Company had currently or previously classified as land held for future development. On this news, according to the Complaint, Beazer Homes’ stock price fell $1.73 per share, or 12.15%, to close at $12.51 per share on May 3, 2019.
What You Can Do
If you purchased Beazer Homes stock between August 1, 2014 and May 2, 2019, inclusive, or if you have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982, or at [email protected], or visit the Beazer Homes litigation page on our website at https://scott-scott.com/case/beazer-homes-usa-inc/. The deadline to move for lead plaintiff is August 5, 2019.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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Contacts
Joe Pettigrew
Scott+Scott Attorneys at Law LLP
230 Park Ave, 17th Floor, NY, NY 10169
(844) 818-6982
[email protected]
