Herbalife Unlikely to Hire Auditor Before Investor Meeting

Herbalife Ltd. said it isn’t likely to hire an outside auditor before it holds its annual shareholder meeting next week, to replace KPMG LLP which resigned after saying a partner leaked inside information.

A shareholder vote to approve a new auditor isn’t required by the company’s charter or laws in the Cayman Islands, where Herbalife is based, Barb Henderson, a company spokeswoman, said in an e-mail yesterday. In addition, the New York Stock Exchange, where Herbalife is listed, has not given the company a time frame to hire an auditor, Henderson said.