Legacy Housing co-founders want seats on Cavalier Homes board

By Lisa Kerner

Charlotte, N.C., Feb. 6 - Cavalier Homes, Inc. investors led by Legacy Housing, Ltd. formally nominated Michael R. O'Connor and Legacy co-founders Kenneth E. Shipley and Curtis D. Hodgson for election to Cavalier Homes' board of directors at the company's 2009 meeting, it was reported it a schedule 13D/A filed with the Securities and Exchange Commission.

Legacy is a mobile home financing, manufacturing and consignment company, according to the filing.

In June 2008, Hodgson and Shipley, who also operates manufactured homes business Bell Mobile Homes, proposed a possible merger between Legacy and Cavalier Homes but later abandoned the proposal, a prior SEC filing said.

More recently, Hodgson objected in January to the proposed sale of Cavalier Homes' subsidiary, CIS Financial Services Inc.

Legacy and its affiliates have a 5% stake in Cavalier Homes, an Addison, Ala., manufactured home company.

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