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LOS ANGELES (AP) - The Department of Justice has launched a probe into the handling of stock options at KB Home, one of the nation's largest homebuilders, although it is not targeting the company directly, KB Home said Friday. As part of its inquiry, the Justice Department is interviewing current and former executives of KB Home, a company spokesman said.
The company last month acknowledged that the Securities and Exchange Commission had launched a formal investigation into its options practices.
Justice also is "looking into these practices but has informed KB Home that it is not a target of this investigation," according to a company release. "KB Home has and intends to fully cooperate with any government agency looking into this matter."
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