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Law Firm to Investigate Avon

The probe 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.

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By: Jamie Matusow

Editor-in-Chief

Robbins Umeda LLP, a California-based law firm, 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. The 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, Avon 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.

Shareholders of Avon that plan to continue to hold shares, and would like more information about rights as a shareholder, are asked to contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at info@robbinsumeda.com.

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.

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