NEW YORK--(BUSINESS WIRE)--
Zamansky LLC announces that it is investigating Cavco Industries, Inc. (CVCO) (“Cavco” or the “Company”) for potential breaches of fiduciary duties in connection with possible misconduct by the Company’s former CEO Joseph Stegmayer. If you are a shareholder of Cavco and still hold your CVCO shares, please contact our firm for information.
It has recently come to light that the Company and former CEO Stegmayer received separate subpoenas from the SEC for documents -- and, in the case of Mr. Stegmayer, for his testimony -- in connection with the trading of a certain public stock. As recently reported by the Company, Cavco “has initiated an independent investigation and intends to cooperate fully with the SEC’s investigation.” Following release of this information through the Company’s quarterly report on November 8, 2018, CVCO shares were negatively impacted. Specifically, it is believed that release of this information caused Cavco shares to plummet 23%, or about $49.48 per share, to close at $165.20 on November 9, 2018.
According to investment fraud attorney Jake Zamansky, Cavco’s officers and directors, including its former CEO, owe the Company and its shareholders fiduciary duties. “Based upon our initial analysis, it appears that the SEC’s ongoing investigation into potential insider trading or related misconduct would raise potential concern for Cavco investors,” Zamansky says. “Accordingly, our law firm is investigating whether certain of Cavco’s officers and directors have breached their duties to the Company.”
What Cavco Shareholders Can Do
If you are a current shareholder of Cavco, please contact us to review or discuss your legal rights. You may, without obligation or cost to you, email firstname.lastname@example.org or call the law firm at (212) 742-1414.
About Zamansky LLC
Zamansky LLC is a leading investment fraud law firm with experience handling securities, hedge fund, ERISA and other shareholder class action and derivative litigation. We are investment fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.
To learn more about Zamansky LLC, please visit our website, http://www.zamansky.com.