INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against Beazer Homes USA, Inc.
June 08 2019 - 9:30AM
Business Wire
The law firm of Kirby McInerney LLP announces that a class
action lawsuit has been filed in the U.S. District Court for the
Southern District of New York on behalf of those who acquired
Beazer Homes USA, Inc. (“Beazer” or the “Company”) (NYSE: BZH)
securities during the period from August 1, 2014 to May 2, 2019
(the “Class Period”). Investors have until August 5, 2019 to apply
to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that Beazer made false and/or misleading
statements and/or failed to disclose that: (i) the Company’s
California assets classified as land held for future development
were deteriorating in value or improperly valuated; and (ii) the
foregoing created a foreseeable risk of an eventual substantial
impairment that would negatively impact the profitability of the
Company.
On May 2, 2019, Beazer issued a press release reporting their
second quarter 2019 earnings in which they announced that they had
taken “impairments on several of our California assets.” On this
news, the Company’s share price fell $1.73 per share, approximately
12.1%, to close at $12.51 on May 3, 2019.
If you acquired Beazer securities during the Class Period, have
information, or would like to learn more about these claims, please
contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by
email at investigations@kmllp.com, or by filling out this contact
form, to discuss your rights or interests with respect to these
matters without any cost to you.
Kirby McInerney is a New York-based plaintiffs’ law firm
concentrating in securities, antitrust, and whistleblower
litigation. The firm’s efforts on behalf of shareholders in
securities litigation have resulted in recoveries totaling billions
of dollars. Additional information about the firm can be found at
Kirby McInerney’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20190608005007/en/
Kirby McInerney LLPThomas W. Elrod, Esq., (212)
371-6600investigations@kmllp.comwww.kmllp.com
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