Beazer Homes Settles SEC Accounting Allegations

Law360, New York (September 24, 2008, 12:00 AM EDT) -- In a deal that doesn't require the company to pay a civil penalty, Beazer Homes USA Inc. has settled allegations by the U.S. Securities and Exchange Commission that officers and employees fraudulently misstated the homebuilder's net income.

The Georgia-based company, which announced the deal Wednesday, did not admit or deny any wrongdoing in settling. It consented to a cease-and-desist order, which requires future compliance with provisions of federal securities laws and regulations.

The SEC said that in reaching the deal it considered the cooperation offered by...
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