Hagens Berman Investigating Diamond Resorts International Inc. for Possible Accounting Fraud

Hagens Berman Sobol Shapiro LLP alerts investors in Diamond Resorts International Inc. (NASDAQ: DRII) that it is investigating possible securities law violations relating to potential accounting practices.

If you purchased or otherwise acquired securities of Diamond Resorts International Inc. and suffered over $75,000 in losses contact Hagens Berman Sobol Shapiro LLP. For more information visit

https://www.hbsslaw.com/cases/DRII

or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing DRII@hbsslaw.com.

Diamond Resort announced on August 1, 2016 that it will delay the release of its second quarter 2016 results because its independent public accountant “has expressed the view that the company may not have correctly applied the relative sales value inventory valuation model in the preparation of its consolidated financial statements for 2014 and subsequent periods.”

Last week the Company announced it agreed to be acquired by Apollo Global Management for $30.25 per share. Shortly beforehand, an entity that appears to be affiliated with Diamond Resort’s Chairman of the Board (Stephen J. Cloobeck) sold shares and received nearly $19 million in gross proceeds.

“Possible accounting irregularities and the timing of the entity’s sales are all concerning,” said Hagens Berman partner Reed Kathrein. “We’re looking at all of that.”

Whistleblowers: Persons with non-public information regarding Diamond Resorts International Inc. should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email DRII@hbsslaw.com.

About Hagens Berman

Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. Read the Firm’s Securities Newsletter, and visit the blog. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160802005622/en/

Hagens Berman Sobol Shapiro LLPReed Kathrein, 510-725-3000

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