WILMINGTON, Del., Nov. 3, 2015 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you own shares of Diamond Foods, Inc. (NASDAQ GS: DMND)?
- Did you purchase any of your shares prior to October 28, 2015?
- Do you think the proposed buyout value is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Diamond Foods, Inc. ("Diamond Foods" or the "Company") (NASDAQ GS: DMND) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by Snyder's-Lance, Inc. ("Snyder's-Lance") (NASDAQ GS: LNCE), in a transaction valued at approximately $1.9 billion.
Click here to learn more: http://rigrodskylong.com/investigations/diamond-foods-inc-dmnd-buyout.
Under the terms of the agreement, shareholders of Diamond Foods will receive $12.50 in cash and 0.775 shares of Snyder's-Lance for each share of Diamond Foods they own. Based on Snyder's-Lance's closing price on October 27, 2015, Diamond Foods shareholders would have received compensation valued at approximately $40.47 per share.
The investigation concerns whether Diamond Foods' board of directors failed to adequately shop the Company and obtain the best possible value for Diamond Foods' shareholders before entering into an agreement with Snyder's-Lance. According to Yahoo! Finance, at least one analyst has issued a price target for Diamond Foods stock at $41.00 per share.
If you own the common stock of Diamond Foods and purchased your shares before October 28, 2015, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org, or at: http://rigrodskylong.com/investigations/diamond-foods-inc-dmnd-buyout.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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