Diamond Crushed on Prosecutor Report

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Diamond Foods (DMND) fell 9.2% after hours as the Wall Street Journal reported that prosecutors have opened an investigation into payments the company made to walnut growers. The probe could result in criminal charges, the Journal notes, and could undo the company’s deal to buy Pringles from Procter & Gamble (PG).

The SEC has already been looking into the payments, and will coordinate with the U.S. Attorney’s office in San Francisco. The company is also conducting an internal inquiry.



Original Article Source by Barrons.com