Litigation
Aug. 22, 2013
Diamond pays $96 million to settle class case
Litigation over walnut purchases ends in cash and stock deal for shareholders
Daily Journal Staff Writer
SAN FRANCISCO - Snack food company Diamond Foods Inc. has agreed to pay its shareholders nearly $100 million in cash and stock to settle federal class action claims that company executives were dishonest about its accounting practices.
The proposed settlement filed Wednesday in the Northern District of California includes $11 million in cash and nearly 20 percent of common stock paid to shareholders....
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