Diamond Food Lawsuit Own Shares of DMND? Losses?



Are you a shareholder of Diamond Foods?
* Diamond Foods Inc removed top management after a probe by its audit committee found that the company improperly accounted for payments to walnut growers, sending its shares down 40 percent in after-hours trading.
* Senior management corporate trickery now brings into doubt the company's deal to buy the Pringles potato chip business from Procter & Gamble Co., which was to be paid for with Diamond shares.
* Chief Executive Michael Mendes and Chief Financial Officer Steve Neil have been placed on administrative leave, adding that it was seeking permanent replacements for the two men.
* Diamond Foods reveled that the U.S. Securities and Exchange Commission are investigating it over Diamonds accounting prcedures. In addition, the Wall Street Journal on January 12 reported that
U.S. prosecutors have launched a criminal inquiry.

The announcement is the latest shock to Diamond investors since the probe over payments was announced in November. Adding to the cloud over the company was the suicide that month of Diamond board member Joseph Silveira, who was on the audit committee but rescued himself from the probe since he was president of a firm that manages walnut-growing properties.

Do you own shares of Diamond Foods? Concerned about the 40% drop in the value of your investment? Call our law firm now. Please call Attorney Bill Kyros at 1-800-934-2921 to discuss your rights.

We are looking for Shareholders in Diamond Foods who wish to bring legal claims. We are also interested in speaking to shareholders who wish to pursue claims against other companies for similar abuse.

Kyros Law is a Boston-based law firm with significant experience representing investors in shareholder lawsuits, class actions, shareholder derivative actions, and securities fraud class actions. For info about our law firm please our Kyros Law web site.