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© 2011 Photos.com, a division of Getty Images. All rights reserved.
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Herbalife’s KPMG situation rare, but not unique

It’s the corporate equivalent of a priest hearing your confession, then using it to blackmail you.

In a highly unusual announcement, Herbalife Ltd. said Tuesday that its auditor, KPMG LLP, had resigned. The reason: the accounting firm had learned that one of its partners was involved in alleged illegal insider trading in Herbalife’s stock.