Toll Brothers Settles Investor Suit for $25 Million
Luxury home builder Toll Brothers has agreed to a $25 million settlement in a shareholder lawsuit over its ability to manage during the national housing downturn

The lawsuit alleged that Toll executives and directors misled investors by “repeatedly and falsely” assuring them that "expensive homes for a niche market of high-end buyers" was immune from the effects of the downturn.

Toll denied wrongdoing, and Toll spokesman Marty Connor said the company's insurers would pay the settlement amount.

Source: Reuters News, Jonathan Stempel (11/10/2010)