Beazer Homes USA, Inc. (NYSE: BZH) Investor Securities Class Action Lawsuit 06/05/2019

If you purchased a significant amount of shares of Beazer Homes USA, Inc. (NYSE: BZH) between August 1, 2014 and May 2, 2019, and / or if you purchased any NYSE: BZH shares prior to August 2014 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: August 5, 2019. NYSE: BZH investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Beazer Homes USA
Case Name: 
Beazer Homes USA Shareholder Class Action Lawsuit 06/05/2019
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: BZH
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
06/05/2019
Class Period Begin: 
08/01/2014
Class Period End: 
05/02/2019
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 
08/05/2019
Summary: 

An investor in shares of Beazer Homes USA, Inc. (NYSE: BZH) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Beazer Homes USA, Inc. in connection with certain allegedly false and misleading statements made between August 1, 2014 and May 2, 2019.

Atlanta, GA based Beazer Homes USA, Inc. operates as a homebuilder in the United States. Beazer Homes USA, Inc. reported that its Total Revenue rose from over $1.91 billion for the 12 months period that ended on September 30, 2017 to over $2.1 billion for the 12 months period that ended on September 30, 2018 and that its Net Income of $31.81 million declined to a Net Loss of $45.37 million over those respective time periods.

On May 2, 2019, Beazer Homes USA, Inc announced its financial and operating results for the second quarter of 2019. Among other issues, Beazer Homes USA, Inc announced a net loss from continuing operations of $100.8 million for the quarter, reflecting a $147.6 million impairment on certain California assets.

Shares of Beazer Homes USA, Inc. (NYSE: BZH) declined to $8.89 per share on May 30, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Beazer Homes USA, Inc. (NYSE: BZH) common shares between August 1, 2014 and May 2, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between August 1, 2014 and May 2, 2019, the defendants made false and/or misleading statements and/or failed to disclose that Beazer Homes’ California assets classified as land held for future development were deteriorating in value or improperly valuated, that the foregoing created a foreseeable risk of an eventual substantial impairment that would negatively impact the profitability of the Company, and that as a result, the Company’s public statements were materially false and misleading at all relevant times.