June 22, 2015 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) shares was announced over potential breaches of fiduciary duties by certain officers and directors at Hovnanian Enterprises, Inc.

The investigation by a law firm concerns whether certain Hovnanian Enterprises officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

Hovnanian Enterprises, Inc. reported that its Total Revenue rose from over $1.13 billion for the 12 months that ended on October 31, 2011 to over $2.06 billion for the 12 months that ended on October 31, 2014 and that its Net Loss of $286.09 million for the 12 months that ended on October 31, 2011 turned into a Net Income of $307.14 million for the 12 months that ended on October 31, 2014.

Shares of Hovnanian Enterprises, Inc. (NYSE:HOV) grew from $1.03 per share in October 2011 to as high as $7.00 per share in late 2012, respectively $6.63 per share in early 2014.

Since then NYSE:HOV shares lost significant value.