February 24, 2007
Criminal Investigation into Backdating at KB Home
KB Home announced that a criminal investigation into backdating stock options is ongoing and it is not the target. Last November the company fired CEO Bruce Karatz and top human resources officer Gary Ray after an internal investigation showed a number of instances of backdating from 1998. See NY Times, New Inquiry on Options at KB Home and WSJ, Former KB Officials Face U.S. Backdating Probe.
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