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CVCO.US
id: 156
On November 8, 2018, the Company reported to the SEC that for the period ending September 29, 2018, it believed its recently-departed CEO, Stegmayer, “traded in certain publicly traded stock in his personal accounts as well as in accounts held by the Company at a time when the Company had agreed to refrain from such trading.” Furthermore, the Company reported that the SEC had issued subpoenas to it, and also to Stegmayer, relating to the trading in the stock of another public company.
On this news, shares of Cavco fell by 23% to close at $165.20 per share on November 9, 2018.
Going forward, 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.
Case Status
Inactive Investigation
Alleged Offence
Mismanagement,
Misleading Statements,
Failure to Disclose,
Insider Trading,
Malpractice,
Negligence,
Breach of Fiduciary duty,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
11/08/2018