NEW YORK--(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 email@example.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.
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