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    Monday, October 12, 2009

    SEC Investigating KB Home, Shares Fall

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      Shares of homebuilder KB Home (KBH) fell nearly 6% on Monday after the company disclosed late Friday that it was being investigated by the Securities and Exchange commission for "possible accounting and disclosure issues."

      KB Home said in its second quarter filing that the SEC company officials on Oct. 2 about the possible issues, and said it "should not be construed as an indication by the SEC that there was any violation of Federal securities laws."

      KB said it is cooperating with federal investigators. 

      The possible violation would be the latest legal issue for KB Home in recent years. Former KB CEO Bruce Karatz resigned in 2006 after it was found that he backdated some of his stock option grants to favorably increase his take-home pay. 

       

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