Updates to our Terms of Use

We are updating our Terms of Use. Please carefully review the updated Terms before proceeding to our website.

Thursday, March 28, 2024 | Back issues
Courthouse News Service Courthouse News Service

KB Home’s Ex-CEO Must Pay $7.2 Million

LOS ANGELES (CN) - The former CEO of Los Angeles-based homebuilder KB Home will disgorge more than $6.7 million he made by fraudulently backdating 2.9 million stock options, pay a $480,000 fine and is barred from directing a public company for 5 years, the SEC said in a settled complaint.

Bruce E. Karatz, 61, of Los Angeles cherry-picked his option dates from 1999 through 2005, the SEC says. He resigned in November 2006.

Categories / Uncategorized

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Loading...