A week ago, the Beazer Homes (BZH
) Exec VP & CFO resigned
effective immediately. Yesterday the news broke from Business Week
that Beazer is being investigated for mortgage fraud. The stock was down -12% after-hours to $27.65 (and falling).
BZH has had a tough year, trading down from a 52-week high of $69.61.
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I’m sure glad it was never a Cara 100 company. Wow! Now I'm wondering if other homebuilders were doing something similar.
The news report says the ex-CFO O'Leary is headed to Kaydon Corp (KDN). I wonder.
This news story from Business Week is going to make for a real ugly market today, I think.