This Day On The Street
Continue to site
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

Deadline Approaching In Lawsuit Against Diamond Foods, Hagens Berman Reminds Investors As SEC Investigation Is Revealed

BERKELEY, Calif., Dec 15, 2011 /PRNewswire/ -- Hagens Berman today reminds investors that only 22 days remain before the Jan. 6, 2012 lead plaintiff deadline in a securities class-action filed against Diamond Foods (NASDAQ: DMND).

Investors who purchased Diamond common stock between Dec. 9, 2010, and Nov. 4, 2011 (the "class period"), with significant losses can call Partner Reed R. Kathrein at (510) 725-3000 or email the firm at You can also contact Hagens Berman online at

Hagens Berman is deepening its investigation following Diamond's disclosure of an investigation by the Securities Exchange Commission (SEC).

Diamond had already stated that it was performing an internal investigation regarding certain crop payments to walnut growers and possible accounting issues. Diamond Foods has stated that it will fully cooperate with the SEC investigation.

On Nov. 1, 2011, Diamond Foods announced that it was postponing its acquisition of Pringles, which it had previously told investors would be completed by Dec. 2011. The company stated that it postponed the acquisition in order to investigate possible improper accounting of payments to walnut growers.

On Monday Dec. 12th, 2011, DMND stock fell 20 percent after the announcement that its internal audit would not be completed until mid-February. On Thursday Dec. 15, 2011, on the news of the SEC investigation, stocks fell another 5 percent selling at $29.47 per share by the time the market closed. In Sept., the stock was trading near $90.00.

"It is surprising the SEC is only now looking at Diamond Foods," Mr. Kathrein said. "Our investigation indicates that investors need a full accounting from Diamond concerning these questionable payments and their impact on revenue."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.19 0.00%
FB $118.06 0.00%
GOOG $695.70 0.00%
TSLA $222.56 0.00%
YHOO $36.00 0.00%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs