Diamond Foods To Pay $5 Mln To Settle SEC Walnut Growers Payment Probe

(RTTNews) - Diamond Foods, Inc. (DMND) said in a regulatory filing on Thursday that it has agreed to pay $5.0 million to settle a Securities and Exchange Commission probe into its historical accounting and reporting of some payments to walnut growers.

The Commissioners of the Securities and Exchange Commission have authorized the settlement. Without admitting or denying the allegations made by the SEC, the company agreed to make the payment to resolve the investigation.

Diamond Foods said the terms of the settlement are consistent with $5.0 million expense recorded by it in the first quarter of fiscal 2014. The settlement is subject to court approval.

DMND rose 0.3 percent on Thursday to close at $25.36.