Centex class-action lawsuit thrown out
A federal court has thrown out a class-action lawsuit filed against Dallas-based Centex and other builders in California. Bloomfield Hills, Mich.-based PulteGroup, the parent company of Centex, announced the news Wednesday. In the suit, plaintiffs accused Centex of engaging in lending and building practices that contributed to the national mortgage crisis. PulteGroup said the court's ruling indicated that the claims were too speculative and that factors beyond the home building industry contributed to the financial crisis.