Kb homes and backdating
Karatz, Ray and another KB Home executive were forced out in 2006 after the homebuilder discovered stock options had been favorably dated between 19.The probe found that no other senior executives had a role in the backdating scheme., KB Home CEO Jeffrey Mezger confronted his neighbors Griffin and partner Randy Bick on Saturday after the couple reportedly filed a complaint about noise coming from Mezger’s Bel Air property.Mezger’s expletive-filled tirade, in which he referred to Griffin as a “fucking bald dyke” and a “fucking cunt,” was picked up on security cameras at Griffin and Bick’s residence. (Griffin had recently shaved her head in solidarity with her sister, who was receiving chemotherapy treatment and who died on Thursday.) “Let’s declare war,” Mezger is heard saying, “’cause we got a lot to go for.Earlier, a lawsuit filed against the same parties alleged they fraudulently inflated sales prices of KB homes in Arizona and Nevada.Pw C accused of sharing confidential information [economia] Watchstone has accused Pw C of “inducing breach of contract” and “unlawful means conspiracy” against the Big Four firm.Prosecutors had asked for a term of at least six years in prison.
Otherwise, it can allow companies to overstate profits and underpay taxes.
As the recording made the rounds on Tuesday, it prompted backlash against the chief executive. Griffin eventually apologized for the photo, acknowledging that it was out of bounds, but she told an Australian TV show in August that she was no longer sorry.
Personal finance guru Suze Orman, for one, called out Mezger’s “disgraceful talk.” I can't believe this! “I don’t apologize for that photo anymore,” she said.
A stock option allows an employee to purchase a company’s stock at a preset price at a future date.
Karatz retroactively tied the exercise price of his options to dates when the stock was selling for a low price, which increased his profit when he sold the shares.