litigation
confidence high
sentiment negative
materiality 0.70
SEC files civil complaint against Cavco and former executives over 2017 trading improprieties
CAVCO INDUSTRIES, INC.
- SEC complaint filed Sept 2, 2021 against Cavco, ex-CEO Joseph Stegmayer, ex-CFO Daniel Urness.
- Alleges antifraud and internal control violations from fall 2017 trading resulting in $260,459 unrealized gain.
- SEC seeks injunction and monetary penalties; company says it will vigorously defend.
- Former Chairman/President/CEO Stegmayer and former CFO Urness named as defendants.