Avon Says Feds Rejected $12M FCPA Settlement Offer

Law360, New York (August 1, 2013, 12:30 PM EDT) -- U.S. criminal and civil authorities have rejected Avon Products Inc.’s $12 million offer to settle a Foreign Corrupt Practices Act investigation into alleged bribery in China and other countries, the cosmetics giant said Thursday.

Avon said it made the offer to the U.S. Department of Justice and U.S. Securities and Exchange Commission in June 2013, but that the agencies had since rejected the terms.

“Although we expect that the DOJ and the SEC will make a counterproposal to our offer, they have not yet done so,”...
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