[January 27, 2015]

INVESTOR ALERT: Class Action Lawsuit Against Calavo Growers, Inc. Announced by Law Offices of Howard G. Smith

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of purchasers of the securities of Calavo Growers, Inc. ("Calavo" or the "Company") (NASDAQ:CVGW) between March 5, 2012 and January 14, 2015, inclusive (the "Class Period"). Calavo markets and distributes avocados, prepared avocados and other perishable foods to food distributors, produce wholesalers, supermarkets, convenience stores and restaurants worldwide.

The lawsuit alleges that defendants made false and/or misleading statements and/or failed to disclose to investors 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 have until March 23, 2015, to move the Court 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, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [email protected], or visit our website at http://www.howardsmithlaw.com.

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