This isn't the company DOJ is looking for

Home builder KB Home, which has had some troubles with past stock-option grant practices, announced today that the company is not a target of a Department of Justice investigation into stock-option practices.

The DOJ "has informed KB Home that it is not a target of this investigation," KB reported. "KB Home has and intends to fully cooperate with any government agency looking into this matter."

KB in November announced the resignation of CEO Bruce Karatz, who had led the company for 34 years. Karatz agreed to pay $13 million to KB after an investigation found that the company had incorrectly reported stock-option grants from 1998-2005 (see Inman News story).

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