Calavo Growers, Inc. (NASDAQ: CVGW)

This investigation is for anyone who acquired securities in Calavo Growers, Inc. (NASDAQ: CVGW) prior to January 31, 2024.

The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by telling investors that the Company complied with the law but then by violating the Foreign Corrupt Practices Act.

On January 16, 2024, Calavo disclosed that it would be unable to file its 2023 Annual Report on time due to “certain matters” relating to the Company’s operations in Mexico that the Company determined “merited enhanced evaluation.” On this news, Calavo’s stock price fell $2.47, or 8.5%, to close at $26.47 per share on January 17, 2024, thereby injuring investors. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on January 31, 2023, after the market closed, Calavo released its fourth quarter and full year 2023 financial results, which missed consensus revenue estimates. The Company also disclosed that its investigation into its operations in Mexico “raised potential issues under the Foreign Corrupt Practices Act” and that the Company had informed the SEC and DOJ. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Calavo Growers, Inc. (NASDAQ: CVGW) prior to January 31, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.