LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz announces an investigation of Calavo Growers, Inc. (“Calavo” or the “Company”) (NASDAQ: CVGW) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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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.
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, Calavo’s stock price fell $1.59, or 6.1%, to close at $24.50 per share on February 1, 2024, thereby injuring investors further.
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If you purchased Calavo securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
[email protected]
www.frankcruzlaw.com
