Herbalife Downgraded after KPMG Resigns as Auditor

Just when we thought Herbalife Ltd. (NYSE:HLF)’s channel of non-stop drama was taking a break, it came back with a bang. With as much controversy as possible, KPMG resigned as Herbalife’s auditor today based on an insider trading scandal.

Read more about this hereand here.

Herbalife fell to as low as $36.26 today, the declining price was accelerated when D.A. Davidson & Co downgraded Herbalife Ltd. (NYSE:HLF). The stock rating of the nutritional supplements company was slashed to Neutral from Buy and the price target was cut by more than 50 percent, from $78 to $38.

Since Herbalife,...