Herbalife (HLF) Hires New Auditor to Ackman's Chagrin

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Go back to Herbalife (HLF) Hires New Auditor to Ackman's Chagrin

Herbalife (HLF) Hires PricewaterhouseCoopers as New Auditor

May 21, 2013 12:07 PM EDT

As previously disclosed, on April 8, 2013, KPMG LLP (KPMG) notified Herbalife Ltd. (NYSE: HLF) that KPMG was resigning, effective immediately, as the Companys independent accountant. KPMG stated it had concluded it was not independent because of alleged insider trading in the Companys securities by one of KPMGs former partners who, until April 5, 2013, was the KPMG engagement partner on the Companys audit. KPMG advised the Company it resigned as the Companys independent accountant solely due to the impairment of KPMGs independence resulting from its now former partners alleged unlawful activities and not for... More