BALA CYNWYD, Pa.--(BUSINESS WIRE)--Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Diamond Foods, Inc. ("Diamond Foods” or "the Company") (Nasdaq: DMND) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Snyder’s-Lance, Inc. (“Snyder’s-Lance”).
Click here to learn more about the investigation http://brodsky-smith.com/996-dmnd-diamond-foods-inc.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Diamond Foods shareholders will receive only $12.50 in cash and 0.775 of a share of Snyder’s-Lance for each share of Diamond Foods stock they own. The investigation concerns whether the Board of Diamond Foods breached their fiduciary duties to shareholders and whether Snyder’s-Lance is underpaying for Diamond Foods. The transaction may undervalue Diamond Foods given the Company’s strong financial position and that the consideration being paid to Diamond Foods shareholders is below the premium paid in comparable transactions. For example, Diamond Foods has beaten consensus analyst estimates for adjusted EPS and adjusted net income for the past five quarters.
If you own shares of Diamond Foods stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://brodsky-smith.com/996-dmnd-diamond-foods-inc.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.