Herbalife (NYSE:HLF) is looking for a new auditor. They are not exactly a plum account and may find it impossible to engage new auditors. Either way the deal will be expensive. The auditor knows they will have lawsuits and lots of post opinion trouble.
The company that accepts the deal reminds me of Slim Pickens in Dr Strangelove. Remember the air force guy who went down sitting on fat boy, waving his cowboy hat and screaming for the heavens to hear. Who fits that profile? In the meantime the accounting firm who take the audit will miss on the trustee in bankruptcy work which will be more lucrative and safer from a legal point of view.
George Gutowski writes from a caveat emptor perspective. If all those powders and shakes really worked how come we have an obesity and diabetes epidemic.