KB Home Buyers Seek Class Status In Fraud Suit

Law360, New York (January 20, 2010, 12:25 PM EST) -- A group of homeowners who purchased houses from KB Home is seeking class certification in a suit accusing the homebuilder and Countrywide Home Loans Inc. of conspiring to rig appraisals to inflate home prices by at least $280 million.

The plaintiffs submitted their motion for certification in the U.S. District Court for the District of Arizona on Tuesday, saying the proposed class includes potentially thousands of people because KB Home built 10,000 homes that were financed by Countrywide during the period at issue.

The suit accuses...
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