mail@shareholdersfoundation.com
An investigation on behalf of investors in Avon Products, Inc. (NYSE:AVP) over possible breaches of fiduciary duty or other violations of law by the Company's board of directors was announced.
If you are an investor in Avon Products, Inc. (NYSE:AVP), including those who purchase AVP shares before October 2008 and continued to hold their shares, you have certain options and you should contact the Shareholders Foundation by email at email@
Avon Products, Inc., located in New York, is a global manufacturer and marketer of beauty and related products.,
An investigation by a law firm on behalf of AVP investors concerns allegations of potential violations of the Foreign Corrupt Practices Act (FCPA) by certain of the Avon's employees. In October 2008 Avon disclosed that it was looking into whether certain travel, entertainment and other expenses in China might have "been improperly incurred." When Avon disclosed on October 20, 2008, its internal investigation of its China operations, focusing on compliance with the Foreign Corrupt Practices Act. On Monday, April 12, 2010, Avon Products announced that four executives have been suspended in connection with an alleged bribery that began with the company's China operation as early as 2008. According the Wall Street Journal a person familiar with the matter said that the scope of the investigation has since widened and the scale of the alleged bribery has grown as well. Avon Products suspended last week the president, chief financial officer and top government affairs executive at its China unit and placed on Monday a New York senior executive, who was Avon's head of internal audit until the middle of last year, on administrative leave. The Wall Street Journal reported that the possible wrongdoing under investigation includes the alleged purchase of trips to France, New York, Canada and Hawaii for Chinese government officials with ties to Avon's business. AVP shares recently traded at $28.27 per share, down from its 52weekHigh of $36.39 per share. Avon stock to drop from $34.76 per share in April 2010, to as low as $25.73 per share in June 2010. Avon Products shares declined already from over $38 per share in the beginning of October 2008 to $24.42 per share on October 24, 2008, and $19.65 per share in November 2008.
Those who are investors in Avon Products, Inc. (NYSE:AVP), including those who purchase AVP shares before October 2008 and continued to hold their shares, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1 (858) 779 – 1554.
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