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Law Offices of Howard G. Smith Announces Investigation of Diamond Foods, Inc.

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  Published in House and Home on Wednesday, November 2nd 2011 at 20:05 GMT by Market Wire
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BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against Diamond Foods, Inc. (aDiamond Foodsa or the aCompanya) (NASDAQ:DMND) concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by the Company between April 5, 2011 and November 1, 2011 regarding Diamond Foodsa business, operations and financial condition were false and misleading.

Diamond Foods engages in processing, marketing and distributing snack products. Specifically, the investigation relates to Diamond Foods' November 1, 2011 disclosure that the Chairman of its Audit Committee received an external communication regarding Diamond Foodsa accounting for certain crop payments to walnut growers, which Diamond Foodsa Audit Committee is now investigating. On this news, shares of Diamond Foods decreased $11.33 per share, or 17.67%, to close on November 2, 2011 at $52.79 per share, on unusually heavy volume.

If you purchased Diamond Foods securities between April 5, 2011 and November 1, 2011, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].