Funds Sue Beazer Brass Over Executive Pay Raises

Law360, New York (March 18, 2011, 7:10 PM EDT) -- Two pension funds slapped the directors of Beazer Homes USA Inc. with a suit in Georgia state court Tuesday, saying the board improperly increased pay for executives in 2010 despite the company's $34 million net loss that year.

Beazer CEO Ian McCarthy, Chief Financial Officer Allan Merrill and general counsel Kenneth Khoury are among the defendants named in a complaint filed by Teamsters Local 237 Additional Security Benefit Fund and Teamsters Local 237 Supplemental Fund For Housing Authority Employees on behalf of Beazer in the Superior...
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