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Herbalife trading halted after auditor KPMG reveals alleged insider trading

Guardian – A partner at top accountancy firm KPMG has been sacked after giving insider tips to an undisclosed investor, it emerged Tuesday. Shares in Herbalife, the controversial nutrition company, were halted minutes after US stock markets opened Tuesday as the company disclosed the alleged breach by one of KPMG’s former partners.

The suspension comes as Herbalife is locked in a bitter fight with hedge-fund manager Bill Ackman, who has called the company “the best managed pyramid scheme in the history of the world”. Ackman has called it his “patriotic duty” to bring the company down.

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