>KB Homes
Date Filed: May 7, 2009
Court: U.S. District Court
Location: Arizona
Ticker Symbol: KBH

Hagens Berman Sobol Shapiro filed a class-action lawsuit against KB Home, Countrywide and LandSafe claiming the three conspired to systematically, artificially and illegally rig home appraisals in KB developments in an effort to boost home values and sales prices.

The venture allowed the companies to control every aspect of a buyer's real estate transaction, putting the companies in a position to rig and falsify the appraised value of KB Home homes.

As a result, homebuyers unknowingly pay upwards of $20,000 over the actual value of their home, pushing them into inflated mortgage loans. This ultimately sets customers up for financial failure, the suit claims.

Plaintiffs claim that since 2006, KB Home built and sold 14,000 homes in the Southwest U.S., with each home selling around $250,000.

The lawsuit represents anyone in Arizona or Nevada who purchased a home through KB Home and whose loan went through Countrywide. You can join this case here or contact attorneys at kbhomes@hbsslaw.com.

RECENT DEVELOPMENTS:

November 12, 2009 - Today, HBSS filed another class-action lawsuit against KB Home, Countrywide and LandSafe, representing homeowners in Texas and Colorado. The lawsuit includes identical claims to lawsuits already filed in California, Arizona and Florida.

You can view a copy of the filed complaint here.

November 3, 2009 - Last week, HBSS filed a class-action lawsuit on behalf of Florida, South Carolina and North Carolina homeowners. The lawsuit includes similar allegations to the lawsuits filed in California and Arizona earlier this year.

You can view a copy of the filed complaint here.

The lawsuit represents anyone who purchased a home from KB Home and financed through Countrywide and LandSafe in the homebuilder's Southeast region, including Florida, North Carolina and South Carolina.

Affected homeowners can join the case by clicking here or e-mailing attorneys at kbhomes@hbsslaw.com.

June 17, 2009 - Today, HBSS filed a class-action lawsuit on behalf of California KB homeowners. You can view a copy of the filed complaint here. The lawsuit represents anyone who purchsed a KB home and financed through Countrywide.

California homeowners can join this suit here.

May 29, 2009 - HBSS recently began an investigation into KB Home sales in California.

The law firm would like to hear from homeowners in California who purchased their house from KB Home and financed through Countrywide. To contact attorneys please join this case or contact attorneys at kbhomes@hbsslaw.com