Avon Products Inc., the global cosmetics brand made famous by its door-to-door sales force, is facing the prospect of a class-action "stock-drop" lawsuit by participants in its retirement plans.
The plaintiffs allege Avon should have frozen its purchase of company stock for the retirement plans as it was being investigated for foreign corruption practices.
In December, Avon agreed to pay $67 million to settle a civil probe by the SEC and another $68 million to settle criminal claims brought by the Justice Department.
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.