Reuters: Private Equity: Diamond in talks on private equity sale-report

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Diamond in talks on private equity sale-report Mar 21st 2012, 20:26 March 21 | Wed Mar 21, 2012 4:26pm EDT March 21 (Reuters) - Diamond Foods Inc, the snacks and walnut seller that is being probed by regulators for improper accounting is in talks with private equity investors over a minority stake in the company, CNBC business television said on Wednesday, citing a Wall Street Journal report. A spokesman for Diamond, the maker of Pop Secret popcorn and Kettle Chips, could not be reached for comment. In February, Diamond removed its chief executive and chief financial officer and said it would need to restate earnings for 2011 and 2010 after its audit committee found that payments to walnut growers had been improperly booked. The company is being investigated by the U.S. Securities and Exchange Commission, and sources have told Reuters that federal prosecutors are also probing its accounting.

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