New York City (Feb. 20, 2019)—Bragar Eagel & Squire, P.C. is investigating potential claims against Cavco Industries, Inc. The investigation concerns whether Cavco has violated the federal securities laws and/or engaged in other unlawful business practices.
On November 8, 2018, Cavco revealed that it had received a subpoena from the United States Securities and Exchange Commission’s Division of Enforcement on August 20, 2018, requesting certain documents relating to trading in the stock of a public company, and that then Chief Executive Officer Joseph Stegmayer had received a subpoena regarding similar issues on October 1, 2018. Cavco stated, “At this time, the company believes that Mr. Stegmayer traded in certain publicly traded stock in his personal accounts as well as in accounts held by Cavco at a time when the company had agreed to refrain from such trading.”
Upon the news release, Cavco’s share price fell by more than 23 percent, closing at $165.20 per share on November 9, 2018.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning their investigation into Cavco visit bespc.com/cvco.
