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If you purchased a significant amount of shares of this company you have certain options and for certain investors are short and strict deadlines running. Investors should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
<p align= justify >The complaint charges the Company’s Executive Vice President and Chief Financial Officer with violations of the Securities Exchange Act of 1934.</p> <p align= justify > </p>
<p align= justify >Hovnanian engages in building residential homes in the United States. It designs, constructs, markets, and sells single-family detached homes, attached townhomes and condominiums, mid-rise and high-rise condominiums, urban infill, and adult homes.</p>
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<p align= justify >Specifically, the alleges that during the Class Period, the defendant issued materially false and misleading statements regarding the Company’s business and prospects. As a result of these misleading statements, Hovnanian stock traded at artificially inflated prices during the Class Period, reaching a high of $54.29 per share in January 2006.</p>
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<p align= justify >As a result of defendant’s misleading statements and failure to disclose, Hovnanian stock traded at inflated levels during the Class Period. However, as a direct result of the market learning of defendant’s wrongdoing, the price of Hovnanian shares declined and plaintiff and the class suffered a loss on their investment in Hovnanian.</p>