MINNEAPOLIS, April 24, 2007 (PRIME NEWSWIRE) -- Charles H. Johnson & Associates announces that a class action has been commenced in the United States District Court for the Northern District of Georgia on behalf of purchasers of Beazer Homes USA, Inc. ("Beazer") (NYSE:BZH) publicly traded securities during the period July 27, 2006 through March 27, 2007 (the "Class Period").
If you are a member of the proposed Class, you may move the court to serve as a lead plaintiff for the Class on or before May 29, 2007. You do not need to be a lead plaintiff in order to share in any recovery that may be obtained.
The Complaint alleges that Beazer violated federal securities laws by issuing material misrepresentations to the market concerning the Company's business and prospects, thereby artificially inflating the price of Beazer Homes securities.
On March 27, 2007, after the market closed, Beazer issued a press release responding to media reports and inquiries into the possibility of a federal investigation of the Company in connection with alleged mortgage fraud. On this news, the Complaint alleges, Beazer's stock fell $2.64 per share to close at $28.77 per share on March 28, 2007, a one-day decline of 9%, and a 40% decline from its Class Period high of $48 per share.
If you purchased Beazer Homes USA, Inc. securities during the Class Period, or have any questions concerning this notice or your rights with respect to this matter, please contact: