homeWelcome, sign in or click here to subscribe.login
     


 

 

Construction


Subscriber content preview

March 18, 2010

Former KB Home executive testifies in fraud trial

LOS ANGELES (AP) — A former executive of KB Home testified Tuesday against former chairman and Chief Executive Bruce E. Karatz, who is accused of bilking shareholders out of millions of dollars by illegally backdating stock options.

A stock option allows an employee to purchase the company's stock at a preset price at a future date. If the shares are trading above that price, the employee can then sell the shares and pocket the profit. The perk is designed to encourage employee performance that contributes to the company's financial success.


 
. . .


To read this story in full login or purchase a subscription.




Email or user name:
Password:
 
Forgot password? Click here.