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BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that all purchasers of the securities of Diamond Foods, Inc. (aDiamond Foodsa or the aCompanya) (NASDAQ:DMND) between December 9, 2010 and November 4, 2011, inclusive (the aClass Perioda), have until January 6, 2012 to move the Court to serve as Lead Plaintiff in the securities fraud class action lawsuit filed in the United States District Court for the Northern District of California.

Diamond Foods processes, markets and distributes snack products. On April 5, 2011 the Company announced that it was going to acquire the Pringles snack business 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) the Company lacked adequate internal and financial controls; (4) as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times; and (5), the Company's positive statements about Diamond Foods' business, operations and prospects, as well as those regarding the timetable for the Pringles acquisition, lacked a reasonable basis.

No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Diamond Foods securities between December 9, 2010 and November 4, 2011, you have certain rights, and have until January 6, 2012, to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. 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 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 ].