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ACCOUNTING FIRM KPMG has fired a senior partner in charge of its Los Angeles office after they allegedly were involved in sharing insider-trading tips to a third party.
In a statement, KPMG said the third party then used the tips in stock trades involving several West Coast companies.
KPMG have now resigned as the auditor of Herbalife “as a result of this individual’s behaviour” and Herbalife’s shares have been halted from trading.
KPMG has 22,000 partners and employees.
Read: KPMG asks staff to warn them of ‘inappropriate coverage’ of firm on net >
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