BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Calavo Growers, Inc. (“Calavo” or the “Company”) (NASDAQ: CVGW) investors concerning the Company’s possible violations of federal securities laws.
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, 2024, 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.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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