Toll Brothers Inc (NYSE:TOL) Investor Investigation Concerning Possible Securities Laws Violations Announced

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Company Name(s): 
Toll Brothers

June 15, 2017 (Shareholders Foundation) - An investigation on behalf of investors of Toll Brothers Inc (NYSE:TOL) shares over potential securities laws violations by Toll Brothers Inc and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Toll Brothers Inc (NYSE:TOL) concerning whether a series of statements by Toll Brothers Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Toll Brothers Inc reported that its Total Revenue rose from over $4.17 billion for the 12 months period that ended on October 31, 2015 to over $5.16 billion for the 12 months period that ended on October 31, 2016 and that its Net Income for those respective time periods increased from $363.17 million to $382.10 million.

On December 23, 2016, Toll Brothers Inc revealed in its annual report for fiscal year 2016, that its "estimated liability for known and unknown water intrusion claims increased in the fourth quarter of fiscal 2016 to approximately $324.4 million as of October 31, 2016."

On June 5, 2017, Toll Brothers Inc revealed that in April 2017, the U.S. Securities and Exchange Commission (“SEC”) "informed the Company that it was conducting an investigation and requested that we voluntarily produce documents and information relating to our estimated repair costs for stucco and other water intrusion claims in fiscal 2016."