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Diamond Foods settles with S.E.C.
date:Jan 13, 2014
The U.S. Securities and Exchange Commission on Jan. 9 charged Diamond Foods, Inc. and former executives Steven Neil and Michael Mendes for their roles in an accounting scheme to falsify walnut costs. Diamond Foods, without admitting or denying the allegations, agreed to pay $5 million to resolve the investigation, according to the companys Jan. 9 filing with the S.E.C. The settlement terms are consistent with the $5 million expense recorded in the fiscal years first quarter ended Oct. 31, 2013.

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