Avon Products Inc.'s illegal efforts to extend its reach into the Chinese market have drawn the attention of at least one ERISA plaintiffs' attorney.
The question being raised by the New York law firm Zamansky LCC is whether the cosmetics maker with door-to-door saleswomen breached its fiduciary duties under ERISA by continuing to offer company stock to employees through its retirement plan, even after the company was being investigated by the Department of Justice and the Securities and Exchange Commission for violation of the Foreign Corrupt Practices Act.
In a news release, Zamansky did not say whether it was representing anyone who might have been harmed, though it did include an invitation to existing and former Avon employees to contact it "for an evaluation of your rights."
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
