Kb homes and backdating

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Prosecutors had asked for a term of at least six years in prison.

Karatz’s lawyers argued that he didn’t knowingly break any laws and questioned Ray’s credibility, noting that he pleaded guilty last year to conspiracy to obstruct justice and agreed to testify in return for leniency.

KB Home did not immediately respond to , the publicly-traded company said Mezger had apologized to Griffin and that he regrets “losing his temper and the language he used.” “It does not reflect who he is or what he believes,” the statement said.

The company said Mezger believes there’s no excuse for such behavior, but also cited a “series of unneighborly actions” by Griffin and Bick.

Nicholas III and Chief Financial Officer William Ruehle, citing prosecutorial misconduct. Prosecutors claimed Karatz made some million by illegally backdating stock options between 19 while he was chairman and chief executive of Los Angeles-based KB Home.

The counts Karatz was convicted of stem from mid-2006, when prosecutors say he concealed and lied about his role in the backdating.

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