IMPORTANT ANNOUNCEMENT: Wolf Haldenstein Adler Freeman & Herz LLP Announces That a Federal Securities Class Action Has Been F...

Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of all persons or entities that purchased the common stock of Calavo Growers, Inc. ("Calavo" or the "Company") (Nasdaq:CVGW) between March 5, 2012 and January 14, 2015, inclusive (the "Class Period").

Calavo shareholders may, no later than March 23, 2015, move the Court for appointment as a lead plaintiff of the Class. Please contact us immediately if you suffered significant losses in Calavo on shares purchased within the Class Period at [phone] or email [e-mail].

The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company's business, operations and prospects. Specifically, the Complaint alleges that the defendants failed to disclose the following: (1) Calavo failed to maintain an accurately valued contingent consideration pursuant to its acquisition of Renaissance Food Group, LLC; (2) Calavo overstated its non-cash operating expenses; (3) the Company lacked adequate internal controls over financial reporting; and (4) as a result of the above, the Company's financial statements were materially false and misleading at all relevant times. As a result of defendants' alleged false and misleading statements, the Company's stock traded at artificially inflated prices during the Class Period.

On January 15, 2015, Calavo announced that it would record a non-cash charge – which the Company would treat as an amortization expense – totaling, over all periods, $88.9 million before tax ($54.0 million net of tax) related to the misstatement in its treatment of the contingent consideration related to the acquisition. As a result, Calavo will restate its previously issued financial statements for the fiscal years ended October 31, 2012 and 2013 and the quarters therein, as well as the quarters ended January 31, 2014, April 30, 2014, and July 31, 2014.

On this news, shares in Calavo fell almost 10%, closing at $43.07 per share on January 15, 2015, on higher than trading volume.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has over 70 attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at [phone], via e-mail at [e-mail], or visit our website at www.whafh.com. All e-mail correspondence should make reference to the "Calavo investigation."

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CONTACT: Wolf Haldenstein Adler Freeman & Herz LLP
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