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KPMG fires partner in LA office for allegedly sharing insider trading tips

KPMG have now resigned as the auditor of Herbalife “as a result of this individual’s behaviour”.

Image: Sean Dempsey/PA Wire

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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