NEW YORK–(BUSINESS WIRE)–$BZH #classaction–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
W. Elrod of Kirby McInerney at 212-371-6600, by email at [email protected],
or by filling out this
contact form, to discuss your rights or interests with respect to
these matters without any cost to you.
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.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.