QUICK LINKS: Videos  |  Micromarkets |

Redemption Report

|

Classifieds

|

Buy a Classified Ad

|

Editorial Calendars

|

Circulation Data

|

Downloads

|

Bookstore

|

Date Book

Search:      

Bookmark this site




Issue Date: Vol. 52, No. 1, January 2012, Posted On: 12/28/2011


SEC Investigates Diamond Foods Accounting Practices


by Staff Reporter
Diamond Foods Inc., Securities and Exchange Commission, payments to walnut growers, Diamond Foods SEC investigation, Diamond's accounting practices, Pringles, Procter & Gamble Co., Emerald Nuts, Pop Secret popcorn, vending machine snacks

STOCKTON, CA -- Diamond Foods Inc. said it is under a formal investigation by the Securities and Exchange Commission over how it accounted for payments to walnut growers.

This follows the company's internal investigation into its accounting of these payments, which some critics say were used to inflate last year's earnings by shifting costs into the current year. | SEE STORY

The controversy over Diamond's accounting practices has delayed its $1.5 billion acquisition of the Pringles chip brand from Procter & Gamble Co. The deal would position the maker of Emerald Nuts and Pop Secret popcorn as the second-largest snack company in the nation behind PepsiCo Inc.

The companies announced the agreement in April and had expected it would close by the end of the year.


Topic: Vending Features

Articles:
  • VendTek's Jerry Horan Retires After 6+ Decades In Vending Industry
  • IA's Hasty Tasty Food Service Acquires IL's HVP Vending
  • Breakroom Space: New Office Design Concepts Drive Workplace Refreshment Revolution
  • Supreme Court Asks Government If Vending Machines Must Comply With ADA Rules; Blind Patron Appeals Coke Suit
  • Fortune: Coca-Cola Turns To Google To Lower Digital Signage Costs

Copyright © 2017 Vending Times Inc. All rights reserved. 
P: (516) 442-1850 | F: (516) 442-1849 | subscriptions@vendingtimes.net
55 Maple Ave. - Ste. 304, Rockville Centre, NY 11570