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Beazer Homes Faces Shareholder Suit

Law360 (April 2, 2007, 12:00 AM EDT) -- With rumors swirling about alleged misconduct, Beazer Homes USA has been hit by a shareholder lawsuit accusing the mortgage-lending company of pumping up the stock by issuing false and misleading statements regarding its financial outlook.

On Thursday, plaintiff Eugene Kratz filed suit in the U.S. District Court for the Northern District of Georgia, seeking class action status for those who purchased Beazer stock from July 27, 2006 to March 27, 2007.

The suit accuses homebuilder Beazer and its top officers of violating the Securities Exchange Act...
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