It’s not surprising that the stock of Atlanta-based Beazer Homes (NYSE: BZH) is dropping today. After hour trading on March 27, 2007 indicated the stock could be under significant pressure in Wednesday’s trading session.
Small wonder. There have been some troubling developments at Beazer and the news just keeps getting worse. Federal officials, including the Federal Bureau of Investigation, are investigating Beazer. An FBI representative stated that "There are potentially all sorts of fraud issues associated with Beazer to include corporate, mortgage or investments in varying degrees.''
Talk about management problems. Two top executives have left Beazer in recent months. Last week, the CFO announced his resignation and left the company two days later. Last month the Company disclosed that the Company's general counsel had been terminated for cause "for a pattern of personal conduct which includes violations of company policies," but did not to give further details.
We are investigating this matter and affected investors may wish to contact us at info@securitiessleuth.com to discuss their options.
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