Settlement in Beazer Homes case gets preliminary court approval
The Atlanta Journal-Constitution
A federal court in Atlanta granted preliminary approval to the settlement of a class action lawsuit against Beazer Homes USA and some of its directors and officers that alleged they breached their fiduciary duties by continuing to allow investment of a 401(k) plan's assets in the Beazer Stock Fund from July 2005 to May 2008 .
The deal provides for a payment of $5.5 million to settle all claims and goes to members of the class whose accounts suffered alleged losses as a result of investing in the fund.
The plaintiffs said Beazer Homes stock was an imprudent investment due to mismanagement and improper business practices . The defendants denied the allegations.
The court will hold a hearing on November 15 to decide whether to approve the settlement.
Smart Shopping
starts here!
This week's inserts | Today's Deals | Grocery Coupons
Grad School / MBA a ticket to success? Earning power | How to pay | Atlanta programs
Today's Deal
Get the deal of the day at DealSwarm.
Inside ajc.com
Cannes closure
A pregnant Reese Witherspoon made a splash as the Cannes Film Festival came to a close.
Photos of the week
The AJC's photo staff selects the week's best photos from around town and around the globe.
Dog saves lives
A therapy dog is trained to sniff out when it's owner is going to faint, then alert her so she sits down.
The week in entertainment
Katy Perry isn't the only one paying tribute to America the beautiful -- and the troops.
amFAR benefit
Karl Lagerfeld and Diane Kruger participated in an auction for the Cinema Against AIDS benefit in Cannes.
2012 graduates
Join us in celebrating the 2012 graduates, and send us photos of your favorite graduates.
