LOS ANGELES, Calif. — Trading in shares of Herbalife, a Los Angeles-based nutrition company, was temporarily halted today amid reports that it is about to disclose that KPMG will have to resign as its auditor.
In a related story, shares of shoemaker Skechers USA, symbol SKX, also was halted.
Plans for the disclosure were reported on the New York Times website, a day after KPMG said it fired a senior Los Angeles-based partner for providing inside information to an unidentified individual who then traded in shares of several West Coast companies.
Early trading in Herbalife, HLF, was halted but resumed about 8:30 a.m. PDT.
Herbalife released a statement, saying KPMG was standing by its work on Herbalife’s behalf, just not the former partner — who was not named.
