KPMG has had to resign as auditor to two US companies after accusing one of its former partners of passing confidential information about its clients to an alleged insider trader.
LA-based Herbalife, the maker of nutritional supplements that is at the centre of a battle between corporate raider Carl Icahn and shortseller Bill Ackman, said it was one of the two companies that now have no auditor. Skechers, the footwear maker, said it was the other.
The US Attorney’s Office in Los Angeles and the Federal Bureau of Investigation are investigating the alleged passing of confidential client information, people familiar with the matter said.
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