Avon Products Inc., the global cosmetics brand made famous by its door-to-door sales force, is facing the prospect of a class-action "stock-drop" lawsuit by participants in its retirement plans.
The plaintiffs allege Avon should have frozen its purchase of company stock for the retirement plans as it was being investigated for foreign corruption practices.
In December, Avon agreed to pay $67 million to settle a civil probe by the SEC and another $68 million to settle criminal claims brought by the Justice Department.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
