BENSALEM, Pa.–(BUSINESS WIRE)–$BZH #classaction–Law Offices of Howard G. Smith announces that a class action lawsuit has
been filed on behalf of investors who purchased Beazer Homes USA, Inc.
(“Beazer Homes” or the “Company”) (NYSE: BZH)
securities between August 1, 2014 and May 2, 2019, inclusive (the
“Class Period”). Beazer Homes investors have until August 5, 2019 to
file a lead plaintiff motion.
Investors suffering losses on their Beazer Homes investments are
encouraged to contact the Law Offices of Howard G. Smith to discuss
their legal rights in this class action at 888-638-4847 or by email to email@example.com.
On May 2, 2019, the Company issued a press release regarding its
financial and operating results for the second quarter of 2019,
reporting a net loss from continuing operations of $100.8 million for
the quarter reflective of a $147.6 million impairment on certain
California assets acquired by the Company before 2007. The assets in
question were currently and previously reported by the Company as land
held for future development.
On this news, the Company’s share price fell $1.73, or nearly 12%, to
close at $12.51 on May 3, 2019, thereby injuring investors.
The complaint filed in this class action alleges that throughout the
Class Period, Defendants made materially false and/or misleading
statements, as well as failed to disclose material adverse facts about
the Company’s business, operations, and prospects. Specifically,
Defendants failed to disclose to investors: (1) Beazer Homes California
assets classified as land held for future development were deteriorating
in value or improperly valuated; (2) the foregoing created a foreseeable
risk of an eventual substantial impairment that would negatively impact
the profitability of the Company; and (3) that, as a result of the
foregoing, Defendants’ positive statements about the Company’s business,
operations, and prospects were materially misleading and/or lacked a
If you purchased shares of Beazer Homes, have information, would like to
learn more about these claims, or have any questions concerning this
announcement or your rights or interests with respect to these matters,
please contact Howard G. Smith, Esquire, of Law Offices of Howard G.
Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by
telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org,
or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.