Herbalife Announces Completion Of Re-Audit For FY10, FY11, FY12

(RTTNews) - Herbalife Ltd. (HLF) said Monday that its independent registered public accounting firm PricewaterhouseCoopers LLP has completed its re-audit of the company's consolidated financial statements for the fiscal years ended December 31, 2010, 2011 and 2012, and the audit of the effectiveness of the company's internal control over financial reporting as of December 31, 2012. The company also said it has filed an amended 10-K/A for the fiscal year ended December 31, 2012, following the completed re-audit of its 2010, 2011 and 2012 financial statements.

Additionally, the company has filed amended 10-Q/As for each of these quarters of 2013 following the completion of SAS 100 reviews of those periods by PricewaterhouseCoopers. With the amended filings, the company is now up to date with its SEC periodic filings.

The company noted that there were no material changes to its audited 2010, 2011 or 2012 financial statements included in the amended 10-K/A or to the company's first, second or third quarter 2013 financial statements included in the amended 10-Q/As as compared with the company's previously filed financial statements for and as of each of such periods. The change in the company's independent auditors to PricewaterhouseCoopers, and the corresponding need to perform re-audits, was the result of the resignation of Herbalife's former independent auditor, KPMG LLP due to the impairment of KPMG's independence resulting from its now former partner's unlawful activities.