NEW YORK, June 29, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of KB Home (“KB Home” or the “Company”) (NYSE: KBH). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether KB Home and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On June 24, 2020, KB Home issued a press release announcing 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[.]”
On this news, KB Home’s stock price fell $3.92 per share, or 11.76%, to close at $29.41 per share on June 25, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980