secwatch.observer — SEC 8-K summary
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Issuer:     CAVCO INDUSTRIES, INC. (CVCO)
CIK:        0000278166
Form:       8-K
Filed at:   2022-09-26T23:59:59+00:00
Accession:  0000278166-22-000057
Event type: regulatory
Sentiment:  neutral
Materiality: 0.35
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/278166/000027816622000057/0000278166-22-000057-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/278166/000027816622000057/cvco-20220923.htm
  HTML page:      https://secwatch.observer/filing/0000278166-22-000057

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer