INVESTOR ALERT: Class Action Lawsuit Against Calavo Growers, Inc. Announced by Glancy Binkow & Goldberg LLP

LOS ANGELES--(BUSINESS WIRE)--

Glancy Binkow & Goldberg LLP, representing investors of Calavo Growers, Inc. (“Calavo” or the “Company”) CVGW, has filed a class action lawsuit in the United States District Court for the Central District of California on behalf of a class (the “Class”) comprising purchasers of Calavo securities between March 5, 2012 and January 14, 2015, inclusive (the “Class Period”).

Please contact Lesley Portnoy at (888) 773-9224 or (310) 201-9150, or at shareholders@glancylaw.com to discuss this matter. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

Calavo markets and distributes avocados, prepared avocados, and other perishable foods to food distributors, produce wholesalers, supermarkets, convenience stores and restaurants worldwide. The Complaint alleges that defendants made false and/or misleading statements and failed to disclose material adverse facts about the earn-out payments provided under an agreement for the acquisition of Renaissance Food Group, LLC, including that: (1) Calavo failed to maintain an accurately valued contingent consideration pursuant to its acquisition of Renaissance Food Group; (2) the Company overstated its non-cash operating expenses; (3) the Company lacked adequate internal controls over financial reporting; and (4), as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times.

On January 15, 2015 Calavo announced it will record a non-cash charge -- which the Company will treat as amortization expense -- totaling $88.9 million before tax ($54 million net of tax) related to the misstatement in its treatment of contingent consideration. Following this news, shares of Calavo dropped $4.72 per share, or more than 9%, to close at $43.07 per share on January 15, 2015.

If you are a member of the Class described above, you may move the Court no later March 23, 2015, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

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