Cavco Industries, Inc. (CVCO)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Cavco Industries, Inc. (“Cavco” or the “Company”) (NASDAQ: CVCO). Investors who purchased Cavco securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Cavco violated federal securities laws.
On November 8, 2018, Cavco disclosed 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.” Following this news, Cavco stock dropped $49.48 per share, or over 23%, to close at $165.20 on November 9, 2018.
On February 4, 2019, Cavco announced that it had received requests for additional documents and that it spent, and expected to spend, millions of dollars on legal and insurance expenses in relation to the SEC’s subpoenas and its independent investigation. Following this news, Cavco stock dropped $26.92 per share, or about 16.7%, to close at $134.37 on February 5, 2019.
Then, on September 2, 2021, the SEC filed a complaint against Cavco, former CEO Joseph Stegmayer, and former CFO and Chief Compliance Officer Daniel Urness, alleging that Stegmayer and Urness caused Cavco to purchase shares of publicly traded companies on material non-public information. Following this news, Cavco stock dropped $6.59 per share, or about 2.5%, to close at $252.48 on September 3, 2021
If you are aware of any facts relating to this investigation or purchased Cavco shares, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.