Tuesday, April 9, 2013

BREAKING NEWS: Herbalife share trading halted [now resumed], auditing firm KPMG quit

Wall Street Journal reported that all trading of Herbalife shares has been halted, and its audit firm, KPMG, just resigned.

It was only April 3rd that Herbalife filed a report to the SEC indicating that KMPG was hired for entire year of 2013.

WSJ also reported that a major KPMG exec was fired from the LA office last night due to possible insider trading tip-off. It is not known if this was related to Herbalife or not.


UPDATE: Trading has resumed.  It is confirmed that KPMG senior partner has leaked info of "several" companies to third-party, leading to profiting from that insider info. That partner has been fired, AND KPMG resignation has been confirmed by Herbalife, who will figure out who to hire before end of the month.

Enhanced by Zemanta

No comments:

Post a Comment