KPMG Resigns As Herbalife Auditor Amid Trading Scandal

Law360, New York (April 9, 2013, 11:51 AM EDT) -- Herbalife Ltd. and Skechers USA Inc. said Tuesday that KPMG LLP had resigned as their auditor after revelations that the partner in charge of KPMG’s Los Angeles practice was under federal investigation for allegedly passing confidential information about the companies to a third party who traded on the tips.

The firm immediately fired the partner, Scott London, last week after learning about the tips, KPMG said. The third party, who was not identified, used the information to make stock trades involving “several West Coast companies,” KPMG...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.