facebook
twitter
rss
account
search
search
 

Herbalife's accountants resign

April 9, 2013 at 12:29 PM   |   Comments

LOS ANGELES, April 9 (UPI) -- U.S. nutrition supplement giant Herbalife said Tuesday its accountant, KPMG, resigned due to alleged insider trading of Herbalife securities.

"Because of alleged trading in Herbalife's securities by one of KPMG's former partners," the accounting firm is resigning "effective immediately," the company said.

The partner resigned Monday. KPMG "notified Herbalife that KPMG's independence had been impaired and it had no option but to withdraw its audit reports on Herbalife's financial statements for the fiscal years ended Dec. 31 2010, 2011 and 2012."

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Some iPhone users getting checks for liquid damage Some iPhone users getting checks for liquid damage
2
Boeing announces job relocations, business unit consolidation Boeing announces job relocations, business unit consolidation
3
Outrage over FERC decision on LNG exports Outrage over FERC decision on LNG exports
4
Coca-Cola company, other soda makers, pledge to cut calories Coca-Cola company, other soda makers, pledge to cut calories
5
Exxon says it's safe from Russian sanctions Exxon says it's safe from Russian sanctions
Trending News
x
Feedback