Glancy Binkow & Goldberg LLP Announces Lead Plaintiff Deadline in the Class Action Lawsuit Against Diamond Foods, Inc. -- DMND
December 12 2011 - 8:30PM
Glancy Binkow & Goldberg LLP announces that all persons or
entities who purchased the securities of Diamond Foods, Inc.
("Diamond Foods" or the "Company") (Nasdaq:DMND) between December
9, 2010 and November 4, 2011, inclusive (the "Class Period"), have
until January 6, 2012 to file a motion with the Court to be
appointed as Lead Plaintiff. The securities fraud class action
lawsuit was filed in the United States District Court for the
Northern District of California.
A copy of the Complaint is available from the court or from
Glancy Binkow & Goldberg LLP. Please contact us by phone to
discuss this action or to obtain a copy of the Complaint at (310)
201‑9150 or Toll Free at (888) 773‑9224, by email to
shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com.
Diamond Foods engages in processing, marketing and distributing
snack products. On April 5, 2011, the Company announced that
it was going to acquire the Pringles snack business (the
"Acquisition") from The Procter & Gamble Company. The
Company represented to investors that the Acquisition would be
completed by December 2011.
The Complaint alleges that throughout the Class Period
defendants made false and/or misleading statements and/or failed to
disclose that: (1) the Company was underestimating the ultimate
price to be paid to walnut growers; (2) the Company was improperly
accounting for its cost of sales; (3) as a result, the Company's
financial results were overstated; (4) the Company lacked adequate
internal and financial controls; (5) as a result of the foregoing,
the Company's financial statements were materially false and
misleading at all relevant times; and (6), the Company's positive
statements about Diamond Foods' business, operations and prospects,
as well as those regarding the timetable for the Acquisition,
lacked a reasonable basis.
Any person or group who suffered a loss as a result of
purchasing Diamond Foods securities between December 9, 2010 and
November 4, 2011, may ask the Court to be appointed as Lead
Plaintiff, but must file a motion no later than the January 6, 2012
deadline. To be a member of the class you need not take action
at this time; you may retain counsel of your choice or take no
action and remain an absent class member. If you wish to
discuss this action or have any questions concerning this Notice or
your rights or interests with respect to these matters, please
contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg
LLP, 1925 Century Park East, Suite 2100, Los Angeles, California
90067, by telephone at (310) 201‑9150, Toll Free at (888) 773‑9224,
by e‑mail to shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
CONTACT: Glancy Binkow & Goldberg LLP, Los Angeles, CA
Michael Goldberg
(310) 201-9150 or (888) 773-9224
shareholders@glancylaw.com
www.glancylaw.com
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