Investigation announced for Investors who lost money with shares of Calavo Growers, Inc. (NASDAQ: CVGW)

An investigation was announced over potential securities laws violations by Calavo Growers, Inc. in connection with certain financial statements.

Investors who purchased shares of Calavo Growers, Inc. (NASDAQ: CVGW), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Calavo Growers, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Santa Paula, CA based Calavo Growers, Inc. markets and distributes avocados, prepared avocados, and other perishable foods to retail grocery and foodservice customers, club stores, mass merchandisers, food distributors, and wholesale customers worldwide. Calavo Growers, Inc. reported that its annual Total Revenue declined from over $1.19 billion in 2022 to $971.94 million in 2023, and that its Net Loss increased from $6.24 million in 2022 to $8.34 million in 2023.

On January 17, 2024, Calavo Growers, Inc. disclosed that it would file a Form 12b-25 Notification of Late Filing for the fiscal year ended October 31, 2023. Calavo stated "[t]he Company's internal audit process identified to the Audit Committee of the Board of Directors certain matters that the Board of Directors determined after fiscal year end merited enhanced evaluation. The Board of Directors promptly established a Special Committee of the Board of Directors (the "Special Committee") to evaluate these matters, and if it deemed appropriate, commence an investigation…As part of this internal investigation, the Special Committee determined that certain matters relating to the Company's operations in Mexico merited further investigation in connection with the completion of the Company's financial statements for the year ended October 31, 2023."

Shares of Calavo Growers, Inc. (NASDAQ: CVGW) declined from $38.97 per share on July 27, 2023, to as low as $21.42 per share on February 01, 2024.

Those who purchased shares of Calavo Growers, Inc. (NASDAQ: CVGW) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.