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Updated from 4:52 p.m. EDT
Federal investigators have opened a criminal probe into the lending practices of homebuilder Beazer Homes(BZH Quote), according to a Business Week report Tuesday.
The news sent shares of the company plunging $5.11, or 16%, to $26.30 in after-hours trading.
The Federal Bureau of Investigation, the Internal Revenue Service, the Justice Department and the Inspector General of Housing and Urban Development are all involved in the matter, Business Week said. The report cited an FBI spokesman and other people familiar with the probe. ...
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