Former KB Home CEO To Pay Over $7M To SEC

Law360, New York (September 15, 2008, 12:00 AM EDT) -- The former CEO of homebuilding giant KB Home Inc. has agreed to pay over $7 million to settle charges of stock options backdating with the U.S. Securities and Exchange Commission.

Without admitting or denying the allegations in a complaint filed against him in the U.S. District Court for the Central District of California on Monday, Bruce E. Karatz agreed to pay more than $6.7 million in disgorgement and prejudgment interest and a $480,000 penalty, the agency said. Additionally, Karatz will be barred from serving as an...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.