Cavco Industries settles SEC action for $1.5M; court approves consent judgment

CAVCO INDUSTRIES, INC.

District Court approved settlement of SEC action; Cavco pays $1.5M penalty without admitting/denying findings.
Action stemmed from 2017 securities trading directed by former CEO Stegmayer, yielding ~$265K unrealized gain.
Consent judgment imposes permanent injunction against future antifraud and internal control violations.
Settlement resolves all claims against Cavco; former CFO Daniel Urness remains the sole remaining defendant.
CEO Bill Boor expressed satisfaction with reasonable terms after extended resolution process.

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