Diamond Settles Suits Over Pringles Flub For $120M

Law360, San Francisco (September 26, 2013, 6:24 PM EDT) -- A California federal judge Thursday gave preliminary approval to Diamond Foods Inc.'s bid, potentially worth $120 million, to exit a class action claiming the snack maker duped investors into buying its stock before flubbing a $2.3 billion deal to purchase Procter & Gamble Co.’s Pringles brand, sending share prices plummeting.

U.S. District Court Judge William Alsup issued his order approving the deal shortly after a brief hearing Thursday morning in California federal court. Under the settlement, Diamond will pay the investor class $11 million in cash...
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Case Information

Case Title

Salhuana v. Diamond Foods, Inc. et al


Case Number

3:11-cv-05386

Court

California Northern

Nature of Suit

Securities/Commodities

Judge

William Alsup

Date Filed

November 7, 2011

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