SEC to Probe KB Home

The commission notifies the homebuilder that it will conduct an informal stock-option inquiry.
Author:
Publish date:

Homebuilder

KB Home

(KBH) - Get Report

said late Thursday that the

Securities and Exchange Commission

has notified the company that it will be conducting an informal inquiry into KB's stock-option grants.

The company, based in Los Angeles, said that it has informed the SEC of the status of an internal review being conducted, and that it intends to fully cooperate with the SEC's inquiry.

KB on Wednesday announced that it is reviewing stock-option grants given to CEO Bruce Karatz.

Shares of the homebuilder closed the regular session up 65 cents to $41.18.