Avon Shareholders Sue Over Possible FCPA Violations

Law360, New York (July 8, 2011, 3:55 PM EDT) -- A class of shareholders sued beauty company Avon Products Inc. and several executives in New York federal court Wednesday for allegedly hiding the extent of the company's Foreign Corrupt Practices Act violations and sinking its share price.

The suit comes on the heels of reports that federal prosecutors have been questioning Avon executives about the possible violations and the nature of the company's ongoing internal investigation, according to the complaint.

Avon told investors that it had effective internal controls to stop any potential FCPA violations, and...
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