NEW YORK AP – Beazer Homes USA Inc. sued U.S. Bank National Association to prevent the bank from declaring Beazer in default on $1.38 billion in loans, the company said in a regulatory filing late Tuesday.
Beazer delayed filing its fiscal third-quarter results because of accounting irregularities that may force it to restate financial results. Most corporate loans are contingent upon the company being, among other things, up-to-date with its regulatory filings, primarily quarterly and annual financial statements.
