Ex-KB Home CEO Convicted In Backdating Case

Law360, New York (April 21, 2010, 7:29 PM EDT) -- Ex-KB Home Inc. CEO Bruce Karatz has been convicted of four of 20 charges filed in connection with alleged stock options backdating.

Jurors in the U.S. District Court for the Central District of California convicted Karatz on four charges related to mail fraud and making false statements in company reports and to accountants, sources familiar with the case said.

He had also been accused of reaping millions by backdating stock options, but he was acquitted of those charges.

Jurors deliberated for six days before delivering the...
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