DMND: accounting issues

Just bought the Jun 2012 15 put. Just in case they go bust pretty quickly. They only hold $3m in cash. Shorting has been prohibited for 1 day apparently
 
Update on DMND

8 February

Company needs to restate financial statements
http://sec.gov/Archives/edgar/data/1320947/000119312512046902/d297426d8k.htm

11 June

Company "announced that it will not meet the previously disclosed June 11, 2012 Nasdaq deadline to file its quarterly reports on Form 10-Q for the periods ended October 31, 2011, and January 31, 2012 as well as April 30, 2012. "

http://finance.yahoo.com/news/diamond-foods-provides-nasdaq-deadline-123000781.html

Update from Adam Gefvert:
http://seekingalpha.com/article/650981-was-diamond-foods-dealing-in-enron-like-fraudulent-activity
 
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