SEC v. Cavco Industries, Inc., Joseph Stegmayer, and Daniel Urness, Robert Scott Parkhurst (insider trading, 2021)

Settled

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In September 2021 the SEC charged Cavco Industries and its former chief executive with trading in Skyline shares on confidential merger-talk information, and charged Cavco's executives with accounting-control violations and misleading the auditor. Stegmayer consented to a $1.48 million penalty and Skyline manager Robert Parkhurst to $15,995, subject to court approval.

The record

What was ordered

Civil penalty

$1.5m

Disgorgement

—

Prejudgment interest

—

Total relief

$1.5m

Alleged gain

—

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The Securities and Exchange Commission announced the cases on September 3, 2021 as litigation release 25196, filed in the District of Arizona and the Northern District of Indiana.

The complaint alleges Cavco, at Stegmayer's direction, used information from merger talks with Skyline to trade Skyline securities, gaining about $260,000, and that Stegmayer sold over 11,000 Cavco shares after an SEC subpoena, avoiding over $880,000 of losses. Separately Parkhurst, a Skyline sales manager, allegedly traded and tipped his father and son.

Stegmayer also agreed to a five-year officer-and-director bar. The release states no amount for Cavco or Urness. The earlier record showed the status as judgment and merged the defendant names.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Insider trading — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2021-09-03 Litigation release published

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC litigation release

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.