NEW YORK, May 20, 2023 (GLOBE NEWSWIRE) — WHY: The Law Firm of Rosen, a global investor rights law firm, continues to investigate potential securities claims on behalf of Cavco Industries, Inc. shareholders. CVCO This stems from allegations that Cavco may have provided 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 out-of-pocket expenses or costs under 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 potential class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=7555 or call Phillip Kim, Esq. at. toll free at 866-767-3653 or by email pkim@rosenlegal.com or case@rosenlegal.com for class action information.

WHAT IS THIS ABOUT: On November 8, 2018, Cavco disclosed in an SEC filing that it had “received a subpoena from the SEC’s Enforcement Division 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 further announced that it has spent, and expects to spend, millions of dollars on 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 buy shares in publicly traded companies based on material non-public information. As a result of this news, Cavco’s stock price fell $6.59 per share, or…