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Law Practice

Sep. 16, 2008

Real Estate Mogul Settles Civil, not Criminal Probe into Backdating

Web Exclusive - The former CEO of KB Home resolved federal civil allegations that he backdated stock options on Monday, but his fate remains clouded by the specter of a possible criminal indictment.

WEB EXCLUSIVE

By Gabe Friedman
Daily Journal Staff Writer

LOS ANGELES - The former CEO of KB Home on Monday resolved federal civil allegations that he backdated stock options, but he's still bracing for a possible criminal indictment.

In a settlement with the Securities and Exchange Commission, real estate mogul Bruce Karatz agreed to pay $7.2 million in penalties and disgorgement. Karatz also agreed to a five-year ban from acting a...

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