Beazer CEO To Repay $6.4M Bonus To Settle Fraud Suit

Law360, New York (March 28, 2011, 9:19 PM EDT) -- The former CEO of Beazer Homes USA Inc. agreed Monday to return $6.4 million in bonus compensation in a Georgia securities suit accusing the home builder's top officers of falsifying financial statements and engaging in a "cookie jar" accounting scheme.

Judge Charles A. Pannell Jr. of the U.S. District Court for the Northern District of Georgia issued an order Monday approving a consent judgment between the U.S. Securities and Exchange Commission and Ian McCarthy, who neither admitted nor denied the SEC’s allegations as part of the...
To view the full article, register now.