Ex-KB Home CEO Drops Appeal In Backdating Case

Law360, New York (January 12, 2011, 2:41 PM EST) -- Former KB Home Inc. CEO Bruce Karatz and the U.S. government have dropped their appeals of a stock options backdating case in which the executive was sentenced to house arrest and a $1 million fine.

On Jan. 7, the clerk for the U.S. Court of Appeals for the Ninth Circuit signed off on the voluntary dismissal motion of Karatz, who was challenging his 2009 conviction and sentence for mail fraud and making false statements, and the government, which wanted a tougher sentence.

The joint dismissal motion...
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