ATTENTION KB HOME SHAREHOLDERS: Shareholder Rights Law Firm Johnson & Weaver, LLP is Investigating Potential Violations of th...
April 20 2015 - 8:03PM
Business Wire
Shareholder Rights Law Firm Johnson & Weaver, LLP is
investigating potential violations of federal securities laws by KB
Home (NYSE: KBH) and certain of its officers. KB Home operates as a
homebuilding company in the United States. It constructs and sells
various home types, including attached and detached single-family
residences, townhomes and condominiums.
Specifically, Johnson & Weaver is investigating whether
certain statements regarding the KB Home’s business, prospects and
outlook were false and misleading when made, causing the price of
the Company’s stock to trade at artificially inflated levels, in
violation of the federal securities laws.
On January 13, 2015, KB Home issued a press release announcing
its fourth-quarter and year-end financial results for the period
ending November 30, 2014. The Company reported a quarterly year
over year decline in housing gross profit margin of 60 basis
points, decreasing the margin from 17.9% to 17.3%. Moreover, KB
Home reported an inventory impairment charge of $34.2 million, of
which $23.2 million related to the planned future land sale of a
non-strategic asset.
On the news, the price of KB Home common stock fell $2.70 per
share, or 16%, to close at $13.84 per share, on heavy trading
volume.
If you are a KB Home shareholder and are interested in
learning more about the investigation or your legal rights and
remedies, please contact Jim Baker
(jimb@johnsonandweaver.com) at 619-814-4471. If you
email, please include your phone number.
About Johnson & Weaver,
LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New York and Georgia.
The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For
more information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Johnson & Weaver, LLPJim Baker,
619-814-4471jimb@johnsonandweaver.com
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