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BOSTON, Feb. 04, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, is investigating whether Cavco Industries, Inc. (“Cavco” or the “Company”) (NASDAQ: CVCO) and certain of its officers and directors violated federal securities laws.
After the market closed on November 8, 2018, Cavco and senior management filed the Company's Form 10-Q for the quarterly period ended September 29, 2018 and disclosed that:
|On August 20, 2018, the Company received a subpoena from the SEC's Division of Enforcement requesting certain documents relating to, among other items, trading in the stock of another public company. On October 1, 2018, the SEC sent a subpoena for documents and testimony to Joseph Stegmayer, the Company's former Chairman, President and Chief Executive Officer, regarding similar issues. 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 the Company at a time when the Company had agreed to refrain from such trading.|
This news drove the price of Cavco shares down $49.48, or about 23%, to close at $165.20 on November 9, 2018. If you have purchased or otherwise acquired Cavco securities and have questions about your legal rights, or possess information relevant to this investigation, you are encouraged to contact attorney Dan DeMaria at (888) 868-2385, by email at email@example.com, or by visiting http://shareholder.law/cases/?case=cavco.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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