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The government awards contracts to companies with histories of misconduct such as contract fraud and environmental, ethics, and labor violations. In the absence of a centralized federal database listing instances of misconduct, the Project On Government Oversight (POGO) is providing such data. We believe that it will lead to improved contracting decisions and public access to information about how the government spends hundreds of billions of taxpayer money each year on goods and services. Report an instance of misconduct »
Deloitte LLP
Beazer Homes Securities Litigation
Date: 06/27/2008 (Date of Amended Complaint)
Misconduct Type: Securities
Enforcement Agency: Non-Governmental
Contracting Party: None
Court Type: Civil
Amount: $950,000
Disposition: Settlement
Synopsis: Deloitte & Touche agreed to pay investors of Beazer Homes USA $950,000 to settle claims that Deloitte, Beazer’s outside auditor, should have noticed the homebuilder was issuing inaccurate financial statements during the housing market decline in 2005-2006. Deloitte, Beazer, and former Beazer executives settled the securities fraud class-action lawsuit for a total of $30.5 million.
Document(s):
- 1. Complaint
- 2. Settlement
