Grant & Eisenhofer Files Class Action Lawsuit Against Lennar Corporation

NEW YORK--(BUSINESS WIRE)--On November 11, 2026, Grant & Eisenhofer P.A. filed a class action lawsuit on behalf of Wilton L. Triggs II (“Plaintiff”) against Lennar Corporation (“Lennar” or the “Company”), Lennar CEO Stuart A. Miller, and Lennar CFO Diane J. Bessette (collectively, “Defendants”). The action alleges that Defendants defrauded investors by making materially false and/or misleading statements and failing to disclose materially adverse facts regarding the Company’s financial performance and its spin-off of Millrose Properties.

This lawsuit is brought on behalf of all persons who purchased Lennar common stock between February 7, 2025, and October 2, 2026, both dates inclusive (the “Class Period”). The action, filed in the United States District Court for the Southern District of Florida, is captioned Wilton L. Triggs II v. Lennar Corporation, Stuart A. Miller, and Diane J. Bessette, No. 26-cv-28015 (S.D. Fla.).

Lennar is a major U.S. homebuilding company that constructs and sells single-family homes. Since 2013, the Company has been pursuing a long-term strategy of building homes, rather than owning land. To do so, Lennar utilizes off-balance sheet vehicles such as land banks to purchase and improve homesites before Lennar acquires the sites to construct the homes themselves. In February 2025, Lennar spun off Millrose Properties into a separate land bank to purchase and develop homesites and then sell them to Lennar ahead of construction.

The complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as well as SEC Rule 10b-5. Specifically, the lawsuit alleges that throughout the Class Period, Defendants issued a series of materially false and misleading statements, representing that the impact of negative market forces on Lennar were being mitigated by the Company’s purportedly successful long-term strategy, including its spin-off of Millrose.

Investors learned the truth through a series of corrective disclosures. First, on December 16, 2025, Lennar reported disappointing fourth-quarter and full-year 2025 earnings, but Defendants still hid the extent of the damage from negative market forces and the misleading practices used to conceal that damage. Second, on March 30, 2025, the Company issued an unanticipated press release defending its long-term strategy. The next day, Hunterbrook Media LLC released a report detailing Lennar’s strategy to record the billions of dollars in annual fees it owed to land banks as assets rather than costs on the balance sheet, thus presenting a misleadingly positive view of the Company’s financial performance. On this news, Lennar stock fell almost 6%.

Investors learned the full truth on October 2, 2026, when Hunterbrook released a second report, describing how Millrose was buying hundreds of finished Lennar homes at above market rates in the lead-up to earnings announcements. This scheme had the effect of misleadingly boosting the Company’s earnings and showing artificially high demand. On this final revelation, Lennar stock dropped a further 7%.

Investors who purchased Lennar securities during the Class Period are members of this proposed Class and may be able to seek appointment as lead plaintiff, which is a court-appointed representative of the Class, by complying with the relevant provisions of the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). See 15 U.S.C. Section 78u-4(a)(2)(A)(i)-(vi).

If you wish to serve as lead plaintiff, you must move the Court by no later than January 11, 2027. You do not need to seek to become a lead plaintiff in order to share in any possible recovery. You may also retain counsel of your choice to represent you in this action.

If you wish to discuss this action or have any questions concerning this notice or your rights, please contact Vincent Pontrello at Grant & Eisenhofer P.A.