Case Page

 

Case Status:    DISMISSED    
On or around 02/24/2016 (Court's order of dismissal)

Filing Date: January 20, 2015

According to the law firm press release, the lawsuit alleges that the Company made false and/or misleading statements and/or failed to disclose that: (i) the Company failed to maintain accurately valued contingent consideration in connection with an acquisition; (ii) the Company overstated its non-cash operating expenses; (iii) the Company lacked adequate internal controls over financial reporting; and (iv) as a result of the above, the Company’s financial statements were materially false and misleading at all relevant times.

On January 15, 2015, the Company announced it will record a non-cash charge which the Company will now treat as an amortization expense totaling $88.9 million before tax related to the misstatement in its treatment of contingent consideration. 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, damaging investors.

On October 6, 2015, the Court issued an Order dismissing the first amended complaint with leave to amend.

On February 24, 2016, the Court issued an Order dismissing the second amended complaint with prejudice.

COMPANY INFORMATION:

Sector: Consumer Non-Cyclical
Industry: Crops
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CVGW
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: C.D. California
DOCKET #: 15-CV-00400
JUDGE: Hon. George H. Wu
DATE FILED: 01/20/2015
CLASS PERIOD START: 03/05/2012
CLASS PERIOD END: 01/14/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Binkow & Goldberg LLP (Los Angeles)
    1801 Ave. of the Stars, Suite 311, Glancy Binkow & Goldberg LLP (Los Angeles), CA 90067
    310.201.915 310. 201-916 · info@glancylaw.com
  2. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date
COURT: C.D. California
DOCKET #: 15-CV-00400
JUDGE: Hon. George H. Wu
DATE FILED: 10/29/2015
CLASS PERIOD START: 09/09/2014
CLASS PERIOD END: 01/14/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date
No Document Title Filing Date