Beazer Homes settles securities class-action suit
ATLANTA — Beazer Homes USA Inc. said Tuesday that it has agreed to settle a securities class-action lawsuit for $30.5 million.
Under the terms of the proposed settlement, the lawsuit will be dismissed without an admission of liability. And in exchange for the money, which will be paid by Beazer’s insurance, the claims will be dropped.
The case was originally filed in March 2007 in U.S. District Court for the Northern District of Georgia, and is subject to court approval.
The company said in a statement that the settlement is in the best interest of the company and its stockholders, as it eliminates the uncertainties, distractions, burden and further expense associated with litigation.