Shareholder Sues PulteGroup Over Fake Twitter Account Scandal Resembling Succession Episode

Investors in PulteGroup, Inc PHM filed a lawsuit Wednesday and are seeking a transparent release of all investigative documents related to reports of executive violations of the company's Code of Ethical Business Conduct. 

The Miller Law Firm, P.C. has filed a lawsuit on behalf of shareholders, requesting the release of information from the company to shareholders regarding its recent internal investigation of questionable behavior by top executives.

Former PulteGroup Director Bill Pulte brought information to directors of the group alleging that second-in-command Brandon Jones had made fake Twitter accounts, using them to harass the Pulte family. 

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“Just six months ago, former PulteGroup director Bill Pulte approached his former colleagues on the Board of Directors with confidential evidence that their second-in-command, Brandon Jones, created a series of fictitious accounts in order to evade the Ethical Codes of Conduct and maybe even the law,” the statement reads. 

The investigation is centered on whether PulteGroup and certain officers and/or directors have engaged in unlawful business practices in relation to the oversight of the company's Board of Directors. The company subsequently reported the termination of the former director of human resources.

The complaint was filed by shareholder Better Trester, who requested the release of the internal investigation documents on March 15, 2023. However, the company has refused to release the requested information thus far. PulteGroup, headquartered in Atlanta, is incorporated in Michigan with its registered office in East Lansing.

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