Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Beazer Homes USA, Inc.

Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming August 5, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of Beazer Homes USA, Inc. (“Beazer Homes” or the “Company”) (NYSE: BZH) investors who purchased securities between August 1, 2014 and May 2, 2019, inclusive (the “Class Period”).

If you are a shareholder who suffered a loss, click here to participate.

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected], or visit our website at www.glancylaw.com.

On May 2, 2019, the Company issued a press release regarding its financial and operating results for the second quarter of 2019, reporting a net loss from continuing operations of $100.8 million for the quarter reflective of a $147.6 million impairment on certain California assets acquired by the Company before 2007. The assets in question were currently and previously reported by the Company as land held for future development.

On this news, the Company’s share price fell $1.73, or nearly 12%, to close at $12.51 on May 3, 2019, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) Beazer Homes California assets classified as land held for future development were deteriorating in value or improperly valuated; (2) the foregoing created a foreseeable risk of an eventual substantial impairment that would negatively impact the profitability of the Company; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

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If you purchased or otherwise acquired Beazer Homes securities during the Class Period you may move the Court no later than August 5, 2019 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190625006043/en/

Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com