Herbalife Director Dunn Predicts ‘Clean Read’ for New Audits
This article is for subscribers only.
Herbalife Ltd. Director Jeff Dunn said he expects a “clean read” when PricewaterhouseCoopers LP finishes new audits of the company’s books amid allegations by hedge fund manager Bill Ackman that it’s a pyramid scheme.
The nutrition company hired PricewaterhouseCoopers in May after its previous accounting firm, KPMG LLP, resigned because of alleged insider trading by an auditor. PricewaterhouseCoopers is re-auditing statements for 2010 through 2012. In August, Ackman sent a 52-page letter urging the auditor to pay attention to “serious accounting and disclosure issues.”