MarketWatch reports that home builder Beazer Homes saw its shares fall more than 10% ahead of the open Wednesday, retreating as the company said federal authorities have requested documents regarding its mortgage business. Beazer has built many home locally in the Santa Clarita Valley.

 

“Beazer Homes has been in contact with the U.S. Attorney’s Office and, at this time, there have been no allegations of any wrongdoing,” the company said in a press release. 

At the same time, Atlanta-based Beazer attacked comments made by an FBI agent in different media reports and said they were unauthorized.

 

On Wednesday, The Wall Street Journal quoted Ken Lucas, an FBI spokesman in Charlotte, N.C., as saying, “There are potentially all sorts of fraud issues associated with Beazer to include corporate, mortgage or investments in varying degrees.” Lucas was also quoted in a BusinessWeek article, touching off selling in Beazer shares after Tuesday’s close of regular trading.

 

Read it here: http://www.marketwatch.com/news/story/beazer-homes-shares-falls-report/story.aspx?guid=%7B916A2E34%2DA4BD%2D4F1F%2D981C%2D41EE86937BC4%7D