Herbalife Does Not Expect to Be De-listed by NYSE

Herbalife Does Not Expect to Be De-listed by NYSE

Herbalife Ltd. (NYSE:HLF) has issued a press release stating that the company does not expect to be delisted despite KPMG quitting as the firm’s auditor. Additionally, the company believes that the removal of the auditor will not require the company to default.

Many believe that the uncertainty regarding the audit outcome is a risk in that the company will have reduced financial flexibility during the period when it does not have audited financial statements.

Herbalife Ltd. (NYSE:HLF) could be lucky to file their 2013 10-K on time. Given that there is no allegation of fraud or questionable accounting, some doubt the re-audit would be forensic in nature, but if it is, it will take more than a year.

Herbalife is a global network marketing company that sells weight management, nutritional supplement and personal-care products in more than 75 countries through a network of 2.1 million independent distributors. Approximately 80% of the company’s sales take place outside of the U.S. The company operates in four primary product divisions: Weight Management, Targeted Nutrition, Energy & Fitness and Personal Care. The company was founded in 1980 and employs approximately 5,100 full-time employees.

The press release can be found below:

Herbalife Response to Media Inquiries


LOS ANGELES–(BUSINESS WIRE)– Herbalife (NYSE: HLF) today issued the following statement in response to media inquiries:

We believe we are currently in compliance with New York Stock Exchange (NYSE) listing requirements and we do not anticipate that the NYSE will initiate any type of proceeding to delist the company. Earlier today, the company proactively reached out to NYSE officials regarding its detailed plan to replace KPMG and will keep the exchange fully apprised of those efforts. In addition, the company has confirmed that KPMG’s resignation as the company’s auditor and KPMG’s withdrawal of its prior audit opinions will not result in a default under Herbalife’s existing credit facilities.


Saved Articles

The Life and Career of Charlie Munger

Charlie is more than just Warren Buffett’s friend and Berkshire Hathaway’s Vice Chairman – Buffett has actually credited him with redefining how he looks at investing. Now you can learn from Charlie firsthand via this incredible ebook and over a dozen other famous investor studies by signing up below:

  • Learn from the best and forever change your investing perspective
  • One incredible tidbit of knowledge after another in the page-turning masterpiece of a book
  • Discover the secrets to Charlie’s success and how to apply it to your investing
Never Miss A Story!
Subscribe to ValueWalk Newsletter. We respect your privacy.

Congrats! Are you a smart person?

We have an exclusive targeted & limited time offer for being a sophisticated and loyal reader.

ValueWalkPremium is a website and newsletter on the latest industry news much of which is not in the public domain and obtained via our sources.

We also have 10 years of resources on how to use this information to better your investment process.

Sign up for  today and get our exclusive content for 40% off. This is our second biggest discount ever!!

Use coupon code VIP20 or click on the button below

Limited time offer only ENDS 2/29/2019 or after next 25 subscribers take advantage whichever comes first – please do not share this discount with others