Beazer Homes Fires Chief Accounting Officer, Cites Ethics Violations
Beazer Homes USA said on Wednesday it fired its chief accounting officer Michael Rand due to violations of the company's ethics policy stemming from attempts to destroy documents.
In a regulatory filing, the sixth largest U.S. home builder said its board's audit committee was conducting an internal investigation of the company's mortgage origination business and related matters.
Atlanta-based Beazer said the action was taken by its board and management following a briefing by the independent, legal counsel retained by the audit committee.
On May 3, Beazer said the U.S. Securities and Exchange Commission was conducting an informal inquiry to determine if the company or its employees had violated securities laws.
Beazer is the subject of several lawsuits as well as a U.S. Attorney's investigation into practices related to its mortgage-origination business.