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With respect to administrative or judicial proceedings involving the environment, we have determined that we will disclose any such proceeding if we reasonably believe such proceeding will result in monetary sanctions, exclusive of interest and costs, at or in excess of $1 million.
+Added: On April 29, 2025, a purported stockholder of the Company filed a derivative complaint in the Delaware Court of Chancery, purportedly on behalf of the Company, against D.R.
+Added: Horton, Inc., the Company’s Executive Chairman, and certain of the Company’s directors.
+Added: The complaint, which is captioned Mississippi Public Employees’ Retirement System v.
+Added: Horton, Inc., C.A.
+Added: 2025-0465-MTZ, asserts claims for breach of fiduciary duty arising out of lot sale transactions between the Company and D.R.
+Added: The complaint seeks judgment awarding the Company damages against the defendants and awarding the plaintiff the costs and disbursements of the action, including reasonable attorneys’ and experts’ fees.
+Added: The Company disputes the allegations of wrongdoing in this matter.
+Added: Nevertheless, the outcome of this lawsuit is uncertain and cannot be predicted with any certainty.
+Added: Accordingly, at this time, the Company is not able to estimate a possible loss or range of loss that may result from this lawsuit or to determine whether such loss, if any, would have a material adverse effect on its business, financial condition, results of operations or liquidity.
On September 6, 2024, the Maryland Department of Environment (MDE) filed suit in the Circuit Court for Harford County, Maryland against the Company regarding various alleged stormwater compliance issues and violations at a project in Maryland dating from 2022 through 2024, seeking injunctive relief and civil penalties.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.