In June 2009, Deloitte agreed to pay almost $1 million to settle a class action lawsuit related to its audits of Beazer, a homebuilding company. The lawsuit claims that Deloitte should have noticed the homebuilder was issuing inaccurate financial statements as the housing market began to decline. A spokesperson for Deloitte indicated that the firm denies all liability and settled to avoid the expense and uncertainty of continued litigation