NEW YORK, Nov. 5, 2015 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Diamond Foods, Inc. ("Diamond" or the "Company") (NasdaqGS: DMND) for potential breaches of fiduciary duties in connection with the sale of the Company to Snyder's-Lance for approximately $1.27 billion.
The Company's stockholders will only receive 0.775 shares of Snyder's-Lance common stock and $12.50 in cash, or approximately $40, for each share of Company common stock they own. However, the offer is below at least one analyst's price target of $41.00 per share.
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The investigation focuses on whether Diamond's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Diamond's shareholders.
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If you own common stock in Diamond and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/DMND or contact Juan Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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