Key Developments: PulteGroup Inc (PHM)
22.53USD
23 May 2013
$0.10 (+0.45%)
$22.43
$21.99
$22.86
$21.70
14,077,594
9,375,526
$24.47
$7.63
Latest Key Developments (Source: Significant Developments)
Faruqi & Faruqi, LLP Launches Investigation Against PulteGroup Inc For Potential Breaches Of Fiduciary Duties By Board Of Directors
Faruqi & Faruqi, LLP, a national securities firm headquartered in New York City, announced that it is investigating the Board of Directors of PulteGroup Inc for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for a Senior Management Incentive Plan and Stock Incentive Plan. Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on April 3, 2013, the Board of Directors recommends that PulteGroup’s shareholders vote to approve the 2013 Senior Management Incentive Plan and the 2013 Stock Incentive Plan. The 2013 Stock Incentive Plan would make 20,000,000 shares available for awards. The issuance of the additional shares could have a substantial dilutive effect on the shares of PulteGroup common stock. Full Article
PulteGroup, Inc. Sells Select Colorado Land Assets
PulteGroup, Inc. announced that it has completed the sale of land approved for approximately 1,500 residences in Broomfield, Colorado to Wheelock Street Capital LLC, a private real estate investment firm. The all-cash transaction is for the remaining developed lots and undeveloped land in Anthem Colorado, a 1,700-acre master planned community in the northwest Denver metro area. The master plan includes the communities of Anthem Ranch and Anthem Highlands. Terms and conditions of the transaction were not disclosed. PulteGroup will not realize a material loss or gain on this land sale. Full Article
PulteGroup, Inc. Comments On Q4 2011 Profit Guidance-Conference Call
PulteGroup, Inc. announced that it remain well positioned to deliver operating profitability in the fourth quarter of 2011. According to I/B/E/S Estimates, analysts were expecting the Company to report net profit of $13.84 million for fiscal 2011. Full Article
Law Offices of Howard G. Smith Announces Investigation of PulteGroup, Inc., Lennar Corporation, D.R. Horton, Inc. and KB Home
Law Offices of Howard G. Smith announced that it is investigating potential claims against many of the top companies in home building, including PulteGroup, Inc., Lennar Corporation, D.R. Horton, Inc. and KB Home concerning possible breaches of fiduciary duties by the companies or their fiduciaries. The investigation concerns a United States Department of Labor (DOL) investigation concerning possible violations of the Fair Labor Standards Act (FLSA). The FLSA governs employment practices such as overtime pay and limits on using teen workers. In addition, an article published September 8, 2011 in The Wall Street Journal about the DOL investigation quoted a researcher for a labor-rights group collaborating with the AFL-CIO to improve standards in the home-building industry who said home builders have been pressuring subcontractors to 'go cheaper' on costs. Full Article
Hagens Berman LLP Investigating Home Building Companies Over Potential Violations of Fair Labor Standards Act Including PulteGroup, Inc.
Hagens Berman LLP announced that it is investigating several major home building companies, including PulteGroup, Lennar Corp., D.R. Horton and KB Home for possible violations of various state and federal labor laws. According to reports, the Department of Labor has launched an investigation to assess possible violations of the Fair Labor Standards Act (FLSA), which governs issues including minimum wage and overtime pay. Full Article
The Manors at South Mountain HOA, Inc. Files Lawsuit Against PulteGroup, Inc.
The Manors at South Mountain HOA, Inc. announced that it has filed a lawsuit against PulteGroup, Inc.. The suit, which seeks damages for substantial defects resulting from Pulte's inferior and negligent design and construction, also names Pulte Homes of NJ and other yet to be specified firms and individuals. Specific claims in the complaint include a number of unsafe conditions relating to the former quarry. Other claims include, but are not limited to, landscaping issues, safety issues, roof defects, roadway defects, sidewalk defects, grading issues and general construction issues. Full Article
UPDATE 2-Pulte profit rises as higher home prices offset slower growth
* First-quarter EPS $0.21 vs loss/share $0.03 a year earlier
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
