Haeggquist & Eck, LLP is Investigating Claims Against Beazer Homes USA, Inc.’s Directors & Officers for Breach of Fiduciary...
September 30 2019 - 9:00AM
Business Wire
Haeggquist & Eck, LLP, a leading shareholder rights
litigation firm, is investigating whether certain directors and
officers of Beazer Homes USA, Inc. (“Beazer Homes”) (NYSE: BZH )
breached their fiduciary duties to Beazer Homes and its
shareholders. If you are a Beazer Homes shareholder, you are
encouraged to contact Amber Eck at Haeggquist & Eck for
additional information.
Haeggquist & Eck is investigating whether members of Beazer
Homes’ Board of Directors (the “Board”) made false and/or
misleading statements as well as failed to disclose material
adverse facts about Beazer Homes’ business, operations, prospects,
and financial health. Specifically, Haeggquist & Eck is
investigating whether the Board failed to disclose material
information, including whether: (i) Beazer Homes’ California assets
classified as land held for future development were deteriorating
in value or improperly valuated; (ii) the foregoing created a
foreseeable risk of an eventual substantial impairment that would
negatively impact the profitability of the Company; and (iii) as a
result, Beazer Homes’ public statements were materially false and
misleading at all relevant times.
On May 2, 2019, Beazer Homes announced a net loss from
continuing operations of $100.8 million for the quarter, which
reflected a $147.6 million impairment on certain California assets
that Beazer Homes had currently or previously classified as land
held for future development. On this news, Beazer Homes’ stock
price fell $1.73 per share, or 12.15%, to close at $12.51 per share
on May 3, 2019.
What You Can Do
If you are a Beazer Homes shareholder, you may have legal claims
against its directors and officers. If you wish to discuss this
investigation, or have questions about this notice or your legal
rights, please contact attorney Amber Eck at 619-342-8000 or e-mail
her at ambere@haelaw.com. There is no cost or obligation to
you.
Haeggquist & Eck, LLP is a nationally recognized leader in
shareholder rights law. The firm represents individual investors in
shareholder derivative lawsuits, and members of the firm have
helped shareholders recover more than $1 billion of value for
themselves and the companies in which they have invested.
This release constitutes attorney advertising. Past results do
not guarantee a similar outcome.
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version on businesswire.com: https://www.businesswire.com/news/home/20190930005149/en/
Haeggquist & Eck, LLP 619-342-8000 Amber Eck,
ambere@haelaw.com
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