LA’s KB Home reaches $23.5M settlement over construction defects
L.A.-based homebuilder KB Home has reached a $23.5 million settlement with the Florida attorney general’s office over allegations that it delivered homes to buyers that had construction problems and then denied requests to make necessary repairs, the Los Angeles Times reported.
Under the terms of the settlement, KB will have to make repairs to any Florida properties with construction defects that it’s built over the last 10 years. The company has already shelled out $71 million to repair Florida homes.
Affected homeowners are also slated to get a share of $6.5 million in restitutions.
In a statement, KB denied wrongdoing and said only that it had cooperated fully “to address issues with residential stucco performance, which we consider to be an industry-wide challenge in Florida.” [LAT]