NEW YORK, Aug. 02, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, is continuing its investigation into potential securities claims on behalf of shareholders of Cavco Industries, Inc. CVCO due to allegations that Cavco disclosed potentially materially misleading business information to the investing public.

SO WHAT: If you have purchased Cavco securities, you may be entitled to compensation without payment of expenses or costs through a contingency fee arrangement. Law firm Rosen is preparing a class action lawsuit to recover investor losses.

WHAT TO DO NEXT: To participate in the prospective class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=7555 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email pkim@rosenlegal.com or cases@rosenlegal.com for information about the Class Action.

WHAT IS THIS ABOUT: On November 8, 2018, Cavco announced in an SEC filing that it “received a subpoena from the SEC’s Division of Enforcement requesting certain documents relating, among other things, to trading in another public company’s stock.” . As a result of this news, Cavco’s stock price fell $49.48 per share, or over 23%, to close at $165.20 per share on November 9, 2018.

On February 4, 2019, Cavco announced that it had received requests for additional documents. Cavco also announced that it has spent, and expects to spend, millions of dollars in legal and insurance costs related to the SEC subpoenas and Cavco’s independent investigation into the matter. As a result of this news, Cavco’s stock price fell $26.92 per share, or approximately 16.7%, to close at $134.37 per share on February 5, 2019.

On September 2, 2021, the SEC filed a complaint against Cavco, former CEO Joseph Stegmayer, and former CFO and Chief Compliance Officer Daniel Urness. The SEC complaint alleged that Stegmayer and Urness caused Cavco to purchase shares in public companies based on material non-public information. As a result of this news, Cavco’s stock price fell $6.59 per share, or…