NUS, Nu Skin, another multi level marketing firm, had a 7% drop on the news, and implied volatility jumped about 500 bps on the day.
The statement from KPMG goes as follows, “Late last week, we were informed that the partner in charge of KPMG’s audit practice in our Los Angeles business unit was involved in providing non-public client information to a third party, who then used that information in stock trades involving several West Coast companies. The partner was immediately separated from the firm….”
