Diamond Foods Inc removed top management after its audit committee found that the company improperly accounted for payments to walnut growers, sending its shares down 40 percent in after-hours trading. The company, maker of Emerald nuts, Kettle chips and Pop Secret popcorn, also said that earnings for its 2010 and 2011 fiscal years will need to be restated to account for the payments.The result of the probe has thrown into doubt the company's deal to buy the Pringles potato chip business from Procter & Gamble Co.
February 8, 2012 7:28 PMRead more