Beazer Sends Accounting Chief Packing

The move follows an attempt to destroy documents.
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Beazer Homes (BZH) - Get Report fired its chief accounting officer for attempting to destroy documents related to an in-house probe of the company's mortgage origination business.

The homebuilder said in a filing Wednesday with the

Securities and Exchange Commission

that Michael T. Rand was terminated for cause due to violations of Beazer's ethics policy.

The action was taken by the board and management following a briefing by the independent legal counsel retained by the board's audit committee.

Shares of Beazer, which have tumbled more than 40% this year, slipped 54 cents, or 1.9%, to $28 in recent after-hours trading.