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Securities

Apr. 23, 2010

KB Home CEO Guilty Of Cover-Up, But Not Backdating

A federal jury on Wednesday convicted former KB Home chief executive Bruce Karatz of attempting to cover up a scheme to backdate his stock options, but acquitted him on all charges related to the actual backdating.

By Gabe Friedman

Daily Journal Staff Writer

LOS ANGELES - A federal jury on Wednesday convicted former KB Home chief executive Bruce Karatz of attempting to cover up a scheme to backdate his stock options, but acquitted him on all charges related to the actual backdating.

The unanimous verdict arrived after five days of jury deliberation, and found Karatz guilty on four of 20 counts including two counts of mail fraud, and one c...

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