Beazer CEO To Repay $6.4M Bonus To Settle Fraud Suit

Law360, New York (March 28, 2011, 9:19 PM EDT) -- The former CEO of Beazer Homes USA Inc. agreed Monday to return $6.4 million in bonus compensation in a Georgia securities suit accusing the home builder's top officers of falsifying financial statements and engaging in a "cookie jar" accounting scheme.

Judge Charles A. Pannell Jr. of the U.S. District Court for the Northern District of Georgia issued an order Monday approving a consent judgment between the U.S. Securities and Exchange Commission and Ian McCarthy, who neither admitted nor denied the SEC’s allegations as part of the...
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