SAN DIEGO--(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 firstname.lastname@example.org. 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.