NASDAQ: CVCO

Cavco Industries, Inc.

Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Cavco Industries, Inc. (NASDAQ: CVCO) resulting from allegations that Cavco may have issued materially misleading business information to the investing public.

If you purchased Cavco securities and would like to join the prospective action, please click “Join This Class Action.”

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If you purchased Cavco securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of the case:

On November 8, 2018, Cavco revealed in an SEC filing that it had “received a subpoena from the SEC’s Division of Enforcement requesting certain documents relating to, among other items, trading in the stock of another public company.” On this news, Cavco share price fell $49.48 per share, or over 23%, to close at $165.20 per share on November 9, 2018.

On February 4, 2019, Cavco revealed that it had received requests for additional documents. Cavco further disclosed that it spent, and expected to spend, millions of dollars on legal and insurance expenses in relation to the SEC’s subpoenas and Cavco’s independent investigation into the matter. On this news, Cavco’s share price fell $26.92 per share, or about 16.7%, to close at $134.37 per share on February 5, 2019.

On September 2, 2021, the SEC filed a complaint against Cavco, former CEO Joseph Stegmayer, and former CFO and Chief Compliance Officer Daniel Urness. The SEC complaint alleged that Stegmayer and Urness caused Cavco to purchase shares of publicly traded companies on material non-public information. On this news, Cavco’s share price fell $6.59 per share, or about 2.5%, to close at $252.48 per share on September 3, 2021

 

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Case Attorneys

Phillip Kim

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