KB Home is under criminal investigation by federal prosecutors over its backdating of executive stock-options, according Bloomberg News as reported in the Los Angeles Business Journal.
Bloomberg, citing people close to the matter, said the investigation is being conducted by the U.S. Attorney’s Office in Los Angeles. The story notes that federal prosecutors have started criminal investigations into the backdating practices of more than 50 companies in cases considered the most egregious.
Read it here: http://www.labusinessjournal.com/article.asp?aID=32066853.1374936.1437423.5073613.83806302.660&aID2=110562