A House of Cards and Jokers are Wild: Former CEO and HR Executive of KB Home Subject of U.S. Attorney Backdating Probe

Today’s Wall Street Journal reports that federal prosecutors in Los Angeles are investigating stock-options backdating at leading home builder KB Home. Apparently prosecutors are inquiring about the conduct of former chief executive officer Bruce Karatz and former human-resources chief Gary Ray.

The lawyer for the former CEO said he is “attempting to persuade [the prosecutor] that Gary Ray did not engage in any wrongdoing and certainly no conscious wrongdoing.” A spokesman for the former head of HR Mr. Karatz declined to comment.

For more see today’s Wall Street Online Journal.


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