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NEW YORK--([ BUSINESS WIRE ])--Harwood Feffer LLP ([ www.hfesq.com ]) announces that a class action suit was filed on November 7, 2011 in the United States District Court for the Northern District of California against Diamond Foods, Inc. (aDiamonda or the aCompanya) (NASDAQ: DMND) on behalf of all purchasers of Diamond securities between December 9, 2010 and November 4, 2011 (the aClass Perioda).

On April 5, 2011, the Company announced that it would acquire The Procter & Gamble Companyas (aP&Ga) Pringles business. The deal was originally scheduled to close in December 2011. On September 27, 2011, The Wall Street Journal published an article entitled aHidden Flaw in P&Gas Diamond Deal,a revealing a $50 million payment in September 2011 made by the Company to walnut growers. The article further suggested that had the payment been made during the fiscal year ended July 31, 2011, it would have reduced the Companyas fiscal 2011 operating income by $50 million. On November 1, 2011, Diamond announced that the Audit Committee of the Companyas Board of Directors was conducting an internal investigation into payments made to walnut growers in September 2011 and the accounting for such payments. In addition, the Company stated that in light of the accounting investigation, the acquisition of P&Gas Pringles business scheduled to close in December 2011 would be delayed.

As a result of the foregoing, Diamond stock fell from a high of $92.47 per share on September 20, 2011 to a low of $35.06 on November 14, 2011.

The California complaint alleges that during the Class Period, Diamond and certain of its directors and officers misrepresented the Companyas financial condition and prospective financial results, including reported earnings and expenses incurred during 2011, its fiscal 2011 projected revenue and earnings, and the overall shareholder value related to Pringles acquisition.

Harwood Feffer is investigating these claims as well as possible misconduct by the Diamond Board of Directors. If you purchased Diamond common stock during the Class Period, you have until the first week of January 2012 to ask the Court to appoint you lead plaintiff for the class. Moreover, current holders of Diamond common stock purchased at any time may also have a claim. If you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website ([ http://www.hfesq.com ]) for more information about the firm.

Attorney Advertising. 2011 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP ([ www.hfesq.com ]). Prior results do not guarantee or predict a similar outcome with respect to any future matter.