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PulteGroup settles with state of Florida over alleged construction faults

PulteGroup Inc. and its subsidiary Pulte Home Co. LLC entered into a multimillion-dollar settlement with the Florida attorney general's office over allegations that it built homes that were not up to code, failed to disclose that information to homebuyers and denied proper warranty coverage in violation of the Florida Unfair and Deceptive Trade Practices Act, according to the Florida Office of the Attorney General.

Under the settlement agreement, PulteGroup must repair homes that are up to 10 years old and provide $4.7 million for restitution, including for expenses incurred due to construction defects and repair work. The settlement is in addition to the $64 million PulteGroup has already paid to repair affected homes, as well as $10 million the homebuilder spent to improve building materials and techniques and provide additional training to employees and contractors during a two-year state investigation.

PulteGroup must also reimburse the attorney general's office for expenses incurred in the investigation.