Diamond Foods Investors Certified In $2.3B Pringles Suit

Law360, Los Angeles (May 6, 2013, 6:10 PM EDT) -- A California federal judge on Monday certified a class of Diamond Foods Inc. investors who say the snack maker duped them into buying its stocks before it flubbed a $2.3 billion deal to purchase Procter & Gamble Co.’s Pringles brand, sending share prices into a nosedive.

Last week, lead plaintiff Mississippi Public Employees’ Retirement System urged U.S. District Court Judge William Alsup to certify a class of shareholders who had invested in Diamond Foods' stock between October 2010 and February 2012 and lost money when the...
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