Calif. High Court Disbars Ex-KB Homes CEO

Law360, New York (December 5, 2011, 7:14 PM EST) -- The California Supreme Court has ordered the disbarment of former KB Home Inc. CEO Bruce Karatz over his 2010 conviction for covering up a stock options backdating scheme, the court disclosed Thursday.

The Supreme Court made the decision in the State Bar of California disciplinary action during its weekly conference on Wednesday and announced the result the following day.

Karatz was suspended from practicing law in August 2010, pending the final disposition of the disciplinary matter, according to state bar records. He later tried to resign...
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