Herbalife (HLF) Auditor Resigns After Providing Insider Information
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With shares of Herbalife (NYSE: HLF) halted on news pending, reports have surfaced from the New York Times that KPMG has resigned as the company's auditor. The resignation comes after a KPMG senior partner was fired for providing inside information to an unnamed individual who then traded on the information.
It is unclear if the trading halt is related. The NYSE has confirmed to StreetInsider.com that the company has requested the trading halt.
Herbalife has been a battleground stock between hedge fund mangers Bill Ackman - who is short the stock and said its a pyramid scheme - and Carl Icahn - who owns a large long position.
In addition to the KPMG news, other speculation has centered around a Carl Icahn tender offer.
It is unclear if the trading halt is related. The NYSE has confirmed to StreetInsider.com that the company has requested the trading halt.
Herbalife has been a battleground stock between hedge fund mangers Bill Ackman - who is short the stock and said its a pyramid scheme - and Carl Icahn - who owns a large long position.
In addition to the KPMG news, other speculation has centered around a Carl Icahn tender offer.
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