KB Home Delays Earnings

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KB Home said late Friday that it received a notice of default from a holder of its 7.25 percent senior notes due 2018.


The company said it received the notice on Thursday from an entity claiming to manage funds that own more than 25 percent of the senior notes. The letter says KB Home is in default because it has not filed its report for the quarter ended Aug. 31.


On Oct. 10, the Los Angeles-based home builder said it would not meet the filing deadline because it needed more time to finish a review of its stock options granting practices after a committee uncovered evidence of improper granting practices.


Shares in KB Home were up 56 cents to $46.07 in early trading Monday.

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