CAVCO INDUSTRIES INC. : Other Events, Financial Statements and Exhibits (form 8-K)
September 03, 2021 at 06:45 pm IST
Share
Item 8.01. Other Events
On September 2, 2021, the Securities and Exchange Commission ("SEC") filed a
civil complaint in the United States District Court, District of Arizona, naming
Cavco Industries, Inc. (the "Company) and the Company's former Chairman,
President & Chief Executive Officer, Joseph H. Stegmayer and the Company's
former Chief Financial Officer, Daniel L. Urness as defendants (the
"Complaint").
In summary, the Complaint brings claims against the Company under the antifraud
and internal account control provisions of the Securities Exchange Act of 1934
based on alleged trading improprieties during the fall of 2017 resulting in an
unrealized gain of $260,459 and allegedly related internal accounting control
violations. The SEC seeks an injunction and monetary penalties.
The Company intends to vigorously defend itself against the allegations made by
the SEC in the Complaint.
A press release is attached hereto as Exhibit 99.1 and is incorporated herein by
reference.
Item 9.01. Financial Statements and Exhibits
Exhibit
Number Description
99.1 Press Release, dated September 3, 2021
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
Cavco Industries, Inc. designs and produces factory-built homes. Its segments include Factory-built Housing and Financial Services. The Factory-built Housing segment includes wholesale and retail factory-built housing operations. The Financial Services segment includes manufactured housing consumer finance and insurance. Its factory-built homes are distributed through a network of independent and Company-owned retailers, planned community operators and residential developers. Its manufactured homes are marketed under a variety of brand names, including Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry and Solitaire. It is also a producer of park model recreational vehicle (RVs), vacation cabins and factory-built commercial structures, as well as modular homes. CountryPlace Acceptance Corp. is its finance subsidiary and Standard Casualty Co. (Standard Casualty) is its insurance subsidiary.