SOURCE: Holzer Holzer & Fistel, LLC

Holzer Holzer & Fistel, LLC

November 17, 2011 11:49 ET

Holzer Holzer & Fistel, LLC Announces That a Class Action Lawsuit Has Been Filed on Behalf of Investors in Diamond Foods, Inc.

ATLANTA, GA--(Marketwire - Nov 17, 2011) - Holzer Holzer & Fistel, LLC announces that a class action lawsuit has been filed in the Northern District of California on behalf of investors who purchased Diamond Foods, Inc. ("Diamond Foods" or the "Company") (NYSE: DMND) common stock between December 9, 2010 and November 4, 2011, inclusive (the "Class Period"). Holzer Holzer & Fistel is investigating whether the allegations contained in the class action complaint also give rise to separate claims for breaches of fiduciary duties.

According to the lawsuit, series of statements made during the Class Period regarding Diamond Foods business, its prospects and its operations were materially false and misleading at the time they were made. Specially, the lawsuit alleges, among other things, that during the Class Period: (1) Diamond Foods overstated earnings by improperly accounting for certain crop payments to walnut growers; (2) the Company concealed information about delays in the acquisition of Pringles' snack business; and (3) contrary to its public statements, the Company lacked adequate internal and financial controls. On November 2, 2011, Diamond Foods announced it was launching an internal investigation into the Company's accounting practices.

If you have continuously held shares since at least December 9, 2010 and plan to continue to hold at least some shares of Diamond Foods, and would like to discuss your legal rights, you may contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at, or, or via toll-free telephone at (888) 508-6832.

Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.