Diamond Foods To Pay $96M To Settle Investor Suit

Law360, New York (August 21, 2013, 4:12 PM EDT) -- Diamond Foods Inc. will pay $96 million to settle a federal class action over accounting errors that led to earnings restatements and ended its bid for the Pringles potato-chip brand, the company said Wednesday. 

Under the terms of the proposed settlement, the California-based snack maker would pay a total of $96.1 million in cash and common stock to a settlement fund in order to resolve all claims asserted by the class, which includes investors who acquired Diamond stock between Oct. 5, 2010, and Feb. 8, 2012,...
To view the full article, register now.