Skechers Shares Halted — KPMG Was Firm’s Auditor
ThinkstockShares of footwear maker Skechers USA Inc. (NYSE: SKX) were halted at 10:27 a.m. ET this morning. The company, based in Manhattan Beach, California, may be the second firm from which KPMG resigned as a result of the insider trading…
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Shares of footwear maker Skechers USA Inc. (NYSE: SKX) were halted at 10:27 a.m. ET this morning. The company, based in Manhattan Beach, California, may be the second firm from which KPMG resigned as a result of the insider trading report the auditing firm released last night.
Earlier this morning, shares of nutritional food maker and multilevel marketer Herbalife Ltd. (NYSE: HLF) were halted at opening amid speculation that its shares also were involved in the insider trading scheme.
So far there has been no announcement from either Skechers or Herbalife.
Shares of Skechers were up nearly 2% in morning trading today, at $21.87 in a 52-week range of $12.56 to $22.61.
Contact [email protected] for any questions or corrections.
Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.