NEW YORK, Feb. 9, 2015 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased Calavo Growers, Inc. ("Calavo" or the "Company") (Nasdaq: CVGW ) securities between March 5, 2012 and January 14, 2015.
To get more information, click here: http://zlk.9nl.com/calavo-growers-cvgw . There is no cost or obligation to you.
The complaint alleges that during the Class Period defendants concealed that: (a) the Company failed to maintain an accurately valued contingent consideration pursuant to its acquisition of Renaissance Food Group, LLC; (b) Calavo overstated its non-cash operating expenses; (c) the Company lacked adequate internal controls over financial reporting; and (d) as a result, the Company's financial statements were materially false and misleading.
On January 15, 2015, Calavo announced it will record a non-cash charge totaling $88.9 million before tax—which the Company will treat as amortization expense—related to the misstatement in its treatment of contingent consideration.
If you suffered a loss in Calavo you have until March 23, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/calavo-growers-cvgw .
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (866) 367-6510 www.zlk.com
