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Avon Faces Shareholder Suit Over FCPA Claims

Law360 (July 23, 2010, 4:48 PM EDT) -- Shareholders of Avon Products Inc. have launched a derivative suit against the company's directors, saying alleged Foreign Corrupt Practices Act violations in China have had devastating consequences for the company.

The County of York Employees Retirement Plan filed its complaint against the directors in the Supreme Court of the State of New York on Thursday, alleging they violated their fiduciary duties to the company.

The directors' “conscious and systematic failure” to oversee Avon's compliance with the FCPA caused it substantial losses from February 2006 through the...
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