NEW YORK, Feb. 28, 2024 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that the firm is investigating potential claims against Calavo Growers, Inc, (“Calavo” or the “Company”) (NASDAQ:CVGW). The firm’s ongoing investigation concerns whether Calavo and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
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On January 17, 2024, Calavo disclosed in a press release 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.” On this news, the price of Calavo shares declined by $2.48 per share, or approximately 8.54%, from $29.05 per share on January 16, 2024 to close at $26.57 on January 17, 2024.
If you purchased or otherwise acquired Calavo securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com
