NEW YORK–(BUSINESS WIRE)–$BZH #beazerhomes—Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, is investigating whether certain directors and officers of Beazer Homes USA, Inc. (“Beazer Homes”) (NYSE: BZH) breached their fiduciary duties to Beazer Homes and its shareholders. If you are a Beazer Homes shareholder, you may contact attorney Joe Pettigrew for additional information: 844-818-6982 or [email protected].
Scott+Scott is investigating whether certain members of Beazer Homes’s Board of Directors (the “Board”) made false and/or misleading statements, as well as failed to disclose material adverse facts, about Beazer Homes’s business, operations, prospects, and financial health. Specifically, Scott+Scott is investigating whether the Board failed to disclose material information, including whether: (i) Beazer Homes’s 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, Beazer Homes’s public statements were materially false and misleading at all relevant times.
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 that Beazer Homes had currently or previously classified as land held for future development. On this news, Beazer Homes’s 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 are a Beazer Homes shareholder, you may have legal claims against Beazer Homes’s directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at 844-818-6982 or [email protected].
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, Amsterdam, Connecticut, California, and Ohio.