NEW YORK, Jan. 15, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Calavo Growers, Inc. ("Calavo Growers" or the "Company") (NASDAQ: CVGW). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Calavo Growers and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On January 15, 2015, Calavo Growers announced that it will restate its previously issued financial statements for the fiscal years ended October 31, 2013 and 2012 and the quarters therein, as well as the quarters ended January 31, 2014, April 30, 2014, and July 31, 2014. The restatements are attributable to a misstatement in Calavo Grower's treatment of contingent consideration in its acquisition of RFG in June 2011.
On this news, shares of Calavo Growers fell $4.72 per share or over 9% to close at $43.07 per share on January 15, 2015.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP