An investigation on behalf of investors in KB Home (NYSE: KBH) shares over potential wrongdoing at KB Home was announced.
San Diego, CA -- (SBWIRE) -- 10/12/2020 -- An investigation was announced over potential breaches of fiduciary duties by certain directors at KB Home.
Investors who purchased shares of KB Home (NYSE: KBH) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain KB Home directors breached their fiduciary duties and caused damage to the company and its shareholders.
Los Angeles, CA based KB Home operates as a homebuilding company in the United States. KB Home reported that its Total Revenue rose from over $5.4 billion for the 12 months period that ended on November 30, 2018 to over $4.55 billion for the 12 months period that ended on November 30, 2019, and that its Net Income increased from $169.38 million to $267.77 million over those respective time periods.
On June 24, 2020, KB Home announced its financial and operating results for the second quarter of 2020. The Company disclosed that its sales and orders fell significantly more than expected, with net orders declining by 57% in the quarter. Explaining the results, KB Home cited "[t]he negative effects of the COVID-19 pandemic and the related extended public health and governmental measures of varying restrictiveness to contain and combat the outbreak[.]"
Those who purchased shares of KB Home (NYSE: KBH) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.