SEC Probes KB Home

Law360, New York (October 13, 2009, 12:47 PM EDT) -- Homebuilding company KB Home Inc., which recently came under fire for alleged stock options backdating, has now disclosed a government investigation “regarding possible accounting and disclosure issues.”

According to a quarterly report filed Friday with the U.S. Securities and Exchange Commission, staff of the agency notified KB Home on Oct. 2 that a formal order of investigation had been issued.

“The company is cooperating with the staff of the SEC in connection with the investigation,” KB Home said in the filing. “The company cannot predict the...
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