This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Faruqi & Faruqi, LLP Announces Investigation Of Diamond Foods, Inc.

Stock quotes in this article: DMND

Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, consumer rights and enforcement of federal antitrust laws, is investigating potential wrongdoing at Diamond Foods, Inc. (“Diamond Foods” or the “Company”) (Nasdaq: DMND). Faruqi & Faruqi, LLP seeks to determine whether Diamond Foods violated federal securities laws in connection with statements made to the Company’s shareholders.

Request more information now by clicking here: www.faruqilaw.com/DMND.

On November 1, 2011, Diamond Foods announced that it was postponing a potential $2.35 billion acquisition of the Proctor & Gamble subsidiary Pringles to allow the Company to complete an internal accounting investigation. The Company’s press release stated that Diamond Foods’ Audit Committee Chairman received an external communication questioning the timing of certain payments to walnut growers. Allegedly, the payments were timed to make fiscal year 2011 costs appear lower than they actually were. One source estimates that the payments were worth as much as $50 million, or 50% of the Company’s operating income in fiscal year ended July 31, 2011.

On the news, Diamond Foods shares dropped approximately 22% to close at $51.87 per share on November 2, 2011. The Company’s share price continued to decline over the following days, reaching as low as $39.28 per share on November 7, 2011.

Take Action

If you purchased Diamond Foods securities between April 5, 2011 and November 1, 2011 and you would like to discuss your legal rights, visit www.faruqilaw.com/DMND. You can also contact us by calling Anthony Vozzolo or Richard W. Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to avozzolo@faruqilaw.com or rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP encourages anyone with information regarding Diamond Food’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.

About Faruqi & Faruqi, LLP

Faruqi & Faruqi, LLP is a national law firm, representing investors, consumers and companies in the prosecution of claims under state corporate and consumer laws and the federal securities and antitrust laws. The lawyers at Faruqi & Faruqi, LLP have demonstrated a clear commitment to championing the rights of shareholders and consumers nationwide.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,734.67 -70.04 -0.42%
S&P 500 1,938.49 -7.67 -0.39%
NASDAQ 4,400.0580 -22.0270 -0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs