Avon Execs Under Fire For Concealing Information

Law360, New York (October 20, 2005, 12:00 AM EDT) -- In a recently filed class action suit, Avon Products Inc. employees allege that CEO Andrea Jung encouraged them to invest in Avon stock while selling her shares in the company, netting her millions but causing the employees to lose a “significant portion” of retirement investments.

The complaint accuses Jung and several other executives of breaching fiduciary duty, engaging in actions to artificially inflate the price of Avon stock, and failing to disclose information necessary for employees to make decisions about their retirement investments.

The Avon employees...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.