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.
Copyright Business Wire 2015