Flickr/raanveSome people are probably going to be really, really nervous right about now…
Both the FBI and the SEC are looking into the alleged insider information leaks from a now-former KPMG senior partner, according to press reports.
Earlier, KPMG said one of its senior partners in the Los Angeles office leaked non-public information in Herbalife and Sketchers to a third party who then traded on that information.
The accounting firm fired that partner and resigned as an auditor at those two companies.
The senior partner and the third party have not been identified.
CNBC’s Scott Wapner reported earlier that the third party is not related to Bill Ackman, the hedge fund manager with a massive short on Herbalife, or his rival billionaire investor Carl Icahn, who has a huge long position in the nutrition company.
Reuters’ Emily Flitter reported that the FBI is going to do a probe. The Securities and Exchange Commission is said to be investigating the matter, Bloomberg News reported.