the housing crunch has bitten beazer now
I thought this was a great quote ""Investing without critical and promised material information is investing in the dark."
"Beazer's Default Dilemma
Ruthie Ackerman, 09.07.07
To default or not to default -- that is the question.
Beazer Homes USA announced on Friday that it received default notices from the trustee of its bondholders for not filing its quarterly earnings with the Securities and Exchange Commission, although Beazer denies it is in default under the bond agreement.
.....three possible outcomes: Beazer files its 10-Q within the 60 day period, the U.S. District Court rules against Beazer saying the default has occurred because the earnings report wasn't filed, or the court rules in Beazer's favor and Beazer has an unlimited amount of time to file its 10-Q. "The last outcome would set an unfortunate precedent, and may have significant ramifications for all investors in securities registered with the SEC," Bryan said. "Investing without critical and promised material information is investing in the dark."
http://www.forbes.com/home/markets/2007/09/07/beazer-homebuilders-closer-markets-equity-cx_ra_0907marketsxx.html
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