Herbalife (HLF) Hires New Auditor to Ackman's Chagrin
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Herbalife (HLF) Hires PricewaterhouseCoopers as New Auditor
May 21, 2013 12:07 PM EDTAs 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
