SAN DIEGO--(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 (email@example.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.