KPMG Partner Who Oversaw Herbalife (HLF) Audit Identified
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April 9, 2013 9:13 PM EDT
Herbalife (NYSE: HLF) issued a statement in response to media inquiries after auditor KPMG resigned following insider trading allegations. The company does not expect NYSE proceedings to delist the company stock and does not expect to be in default of its existing credit... More
April 9, 2013 11:05 AM EDT
Herbalife (NYSE: HLF) announced that KPMG LLP notified Herbalife on April 8, 2013 that KPMG was resigning, effective immediately, as Herbalife's independent accountant. KPMG stated it had concluded it was not independent because of alleged insider trading in Herbalife's securities by one of KPMGs former partners who, until April 5, 2013, was the KPMG engagement partner on Herbalife's audit. KPMG advised the Company it resigned as Herbalife's independent accountant solely due to the impairment of KPMG's independence resulting from its now former partners alleged unlawful activities and not for any reason related to Herbalife's financial statements, its... More
April 9, 2013 10:23 AM EDT
KPMG issued the following statement announcing that it would resign as auditor of two clients. KMPG didn't mention who the two clients were, but many expect that one is trader favorite Herbalife (NYSE: HLF)
The statement is below:
Late last week, we were informed... More
