LOS ANGELES, Feb. 08, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Cavco Industries, Inc. (“Cavco” or “the Company”) (NASDAQ: CVCO) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Cavco filed its Form 10-Q for the quarterly period ended September 29, 2018 after the market closed on November 8, 2018. The Company disclosed in its 10-Q that it had received an SEC Division of Enforcement subpoena on August 20, 2018. The SEC subpoena requested records of Cavco’s trading in another public company’s stock, amongst other details. Joseph Stegmayer, Cavco’s former Chairman, President, and Chief Executive Officer, received a similar SEC subpoena on October 1, 2018. Based on the news of SEC subpoenas, Cavco shares fell almost 23% on November 9, 2018.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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