Trading in stock of Herbalife, the Los Angeles-based nutritional supplement maker and distributor, was reportedly halted Tuesday morning for a forthcoming news announcement.
The New York Times, meanwhile, reported earlier in the day that Herbalife was about to disclose that KPMG would resign as the company’s auditor.
That would follow the auditing firm’s disclosure that it has fired a senior partner in its Los Angeles office in connection with an alleged insider-trading scheme involving stocks of West Coast companies.
KPMG, in a statement on its website, did not disclose the companies. A spokesman could not immediately be reached Tuesday morning.
An Herbalife spokeswoman did not immediately return a request for comment.