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,...
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