SAN FRANCISCO — Eager to settle a securities class action over its 2012 accounting scandal, Diamond Foods Inc. has agreed to a deal worth roughly $96 million — a sum that falls short of what plaintiffs think they could recover but won't capsize the troubled nut and snack maker either.
Diamond will shell out $11 million in cash and issue more than four million shares of stock to settle the suit, according to a motion filed in U.S. District Court for the Northern District of California on Wednesday by lawyers for the Mississippi Public Employees Retirement System.
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