Defendant Name: Cavco Industries, Inc.

Defendant Type: Public Company
SIC Code: 2541
CUSIP: 14956810

Initial Case Details

Legal Case Name SEC v. Cavco Industries, Inc.; Joseph Stegmayer; and Daniel Urness
First Document Date 02-Sep-2021
Initial Filing Format Civil Proceeding
Case Number 21-cv-01507
Allegation Type Insider Trading
Federal District Court Arizona, District of Arizona

Violations Alleged

Exchange Act
• Sec 10(b) + Rule 10b-5
• Sec 13(b)(2)(B)
Additionally, Joseph Stegmayer is alleged to have aided and abetted Cavco Industries, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act.
Daniel Urness is alleged to have aided and abetted Cavco Industries, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act.

Resolutions

First Resolution Date 23-Sep-2022
Headline Total Penalty and Disgorgement $1,500,000

Related Documents:

comp25196 02-Sep-2021 Complaint
Complaint
The SEC stated: "This matter involves insider trading by Cavco Industries, Inc. (“Cavco”) and by its former chief executive officer (“CEO”), Joseph Stegmayer (“Stegmayer”). Cavco bought shares of Skyline Corp. (“Skyline”) at Stegmayer’s direction while Skyline was in merger talks with Cavco and other potential acquirers."
LR-25196 03-Sep-2021 Litigation Release
EC Charges Public Company and Former Executives with Insider Trading, Internal Accounting Control Violations, and Misleading an Auditor
The SEC "announced insider trading charges against Arizona-based Cavco Industries, Inc., and its former CEO, Joseph Stegmayer. It also brought internal accounting control charges against Cavco, Stegmayer, and Cavco's former CFO, Daniel Urness. The SEC also charged Stegmayer and Urness with misleading Cavco's auditor about the trading and a related investigation."
court_doc71_21-cv-01507 23-Sep-2022 Court Docket Document
Final Judgment as to Defendant Cavco
The Court stated: "Defendant Cavco Industries, Inc., having entered a general appearance; consented to the Court's jurisdiction over Defendant and the subject matter of this action; consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment".

Other Defendants in Action:

Joseph Stegmayer
Daniel Urness

Related Actions:

SEC v. Robert Scott Parkhurst
Robert Scott Parkhurst
In the Matter of Daniel Urness, CPA
Daniel Urness