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ATLANTA (AP) - Shares of Beazer Homes USA Inc. fell more than 17 percent in after-hours trading after the FBI said it is among agencies investigating possible fraud in the company's mortgage lending practices and other financial transactions.
The Atlanta-based company, which has suffered hefty losses amid a downturn in the housing market, is the subject of an investigation by the FBI and the U.S. attorney's office in Charlotte, N.C., along with the Internal Revenue Service and the U.S. Department of Housing and Urban Development, FBI agent Ken Lucas said Tuesday.
Beazer shares dropped $5.38 to $26.03 in electronic trading after closing down 91 cents, or 2.8 percent, at $31.41 on the New York Stock Exchange.
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