The San Francisco Chronicle adds that, “as part of the Pringles deal, Diamond gave assurances to P&G that its financial statements were accurate. Under the terms of the agreement, P&G may be able to terminate the deal if it demonstrates that problems with the financial statements represent a ‘material adverse effect’ in Diamond’s business.” Additionally, the documents state that a change in employment status of the acquirer’s senior executives that may negatively impact its future prospects would constitute a “material adverse change.” Diamond board member Rick Wolford has agreed to serve as acting CEO, while Alix Partners LP’s Michael Murphy will be acting CFO while the company searches for permanent replacements.

The New York Times quotes P&G spokesman Paul Fox as stating that the company’s Pringles unit has attracted “considerable interest” from other potential buyers and that the company is keeping all of its options open. Ali Dibadj, an analyst at Sanford C. Bernstein & Company in New York, remarks, “I don’t think P&G wants to stick its shareholders with a stock that is uncertain like Diamond.” Nevertheless, Diamond will continue to be a force in the industry as the seller of such popular products as Emerald snack nuts and Pop Secret popcorn.

State and federal officials will announce Thursday morning a landmark settlement with five of the nation’s banks over their flawed and fraudulent foreclosure practices.

Long-running negotiations over the estimated $25 billion settlement received a major boost Wednesday when California ­Attorney General Kamala Harris agreed to back the effort after withdrawing her support last fall, according to three people with knowledge of the talks, who spoke on the condition of anonymity because the deal had not been finalized.