SAN DIEGO–(Business Wire)–
Robbins Umeda LLP has commenced an investigation into possible breaches of
fiduciary duty and other violations of the law by certain officers and directors
at Avon Products Inc. (“Avon” or the “Company”) (NYSE: AVP). Avon manufactures
and markets beauty and related products worldwide. The Company markets its
products through direct selling and independent representatives, as well as
through distributorships. Avon was founded in 1886 and is headquartered in New
York, New York.
Robbins Umeda LLP’s investigation concerns whether Avon’s directors and officers
breached their fiduciary duties in connection with the Company’s potential
violations of the Foreign Corrupt Practices Act (“FCPA”).
Avon first announced that it was investigating possible violations of the FCPA
in 2008. The Company recently announced that its expenses for its internal FCPA
investigation have increased enough to impact results. In particular, Avon
disclosed that it incurred “significant professional fees associated with the
Company’s internal investigation resulting from an allegation of FCPA violations
in China.” In April 2010, the Company suspended four employees pending its
internal bribery investigation, and put three executives in China and another in
New York on administrative leave. The investigation has now expanded to at least
four international business units outside of China.
If you are a shareholder of Avon, plan to continue to hold your shares, and
would like more information about your rights as a shareholder, please contact
attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at
Robbins Umeda LLP is a California-based law firm, which has significant
experience representing investors in shareholder derivative actions, securities
fraud class actions, and merger-related shareholder class actions. For more
information about the firm, please go to http://www.robbinsumeda.com.
Robbins Umeda LLP
Gregory E. Del Gaizo, 800-350-6003
Copyright Business Wire 2010