Beazer CEO To Repay $6.5M Bonus In SEC Deal

Law360, New York (March 3, 2011, 6:31 PM EST) -- Beazer Homes USA Inc.'s CEO struck a deal with the U.S. Securities and Exchange Commission on Thursday to nix a lawsuit in Georgia, agreeing to pay back $6.5 million in compensation he received while the company was allegedly engaged in accounting fraud.

The settlement resolves a complaint the commission filed in the U.S. District Court for the Northern District of Georgia and calls for Ian J. McCarthy, without admitting or denying the SEC's allegations, to hand Beazer his entire 2006 incentive bonus as well as all...
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