WeissLaw LLP: Diamond Foods Inc.'s Board May Not Be Acting In The Best Interests of DMND Shareholders

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  • Author(s): PR Newswire
  • Source:
    PR Newswire US. 10/30/2015.
  • Additional Information
    • Alternate Title:
      WEISSLAW-Shareholder
    • Subject Terms:
      New York
    • Abstract:
      NEW YORK, Oct. 30, 2015 /PRNewswire/ -- The proposed acquisition of Diamond Foods Inc. ("DMND" or the "Company") by Snyder's-Lance Inc. ("Snyder's-Lance") is being investigated by WeissLaw LLP for possible breaches of fiduciary duty and other violations of law by the Board of Directors of DMND. On October 28, 2015, the Company announced it had reached a definitive agreement for Snyder's-Lance to acquire DMND in a transaction valued at approximately $1.91 billion, inclusive of debt. Under the terms of the agreement, shareholders of DMND will receive $12.50 in cash and 0.775 of a Snyder's-Lance share for each DMND share they own; representing a total consideration of $40.46 per share. [ABSTRACT FROM PUBLISHER]