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What: Shares of Diamond Foods
So what: The SEC is investigating how the company accounted for payments last year, which may have been shifted to this year to boost earnings. As a result, Proctor & Gamble
Now what: To put salt in the wound, analysts at Jefferies downgraded the stock and now have a price target of $27, all the way from $94 in October. There's really nothing good to report here because you know it's bad news when the SEC starts snooping around your accounting offices. Shares are just too risky for this Fool right now, and I'll wait for more clarification around the investigation before considering buying.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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