Bruce Karatz Trial: Gary Ray, Key Witness In Case Against Bruce Karatz, Completes testimony

05/19/2010 05:12 am ET | Updated May 25, 2011

The key prosecution witness in the stock-options backdating trial of former KB Home chief Bruce Karatz completed his testimony Friday afternoon after four days on the witness stand.

Gary Ray, who served as KB's vice president of human resources from 1996 to 2006, told jurors in federal court in Los Angeles that he and Karatz carefully selected grant dates when the stock price was low so the options would be more valuable to themselves and employees.

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