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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."
