An investigation on behalf of investors in notes from Avon Products, Inc. (NYSE: AVP) over possible securities laws violations was announced and investors in Avon Products notes should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/23/2012 -- The Shareholders Foundation announces that an investigation on behalf of investors in as 4.800% Notes due 2013, 5.625% Notes due 2014, 5.750% Notes due 2018, or 6.500% Notes due 2019 from Avon Products Inc over possible securities laws violations continues.
Investors who purchased notes from Avon Products, Inc. (NYSE: AVP) such as 4.800% Notes due 2013, 5.625% Notes due 2014, 5.750% Notes due 2018, or 6.500% Notes due 2019, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible shareholder claims based on potential violations of Federal Securities Laws in connection with the Avon Products, Inc. 4.800% Notes due 2013, 5.625% Notes due 2014, 5.750% Notes due 2018, and/or or 6.500% Notes due 2019.
The investigation follows a lawsuit filed by investors who purchased common shares of Avon Products, Inc stock at the close of business of March 17, 2011, March 17, 2010, March 18, 2009, March 14, 2008 or March 15, 2007 and were therefore eligible to vote proxies or purchased or otherwise acquired Avon Products' common stock from July 31, 2006 through and including May 24, 2011.
The company disclosed, in October 2008, that it had begun an investigation into possible FCPA violations in China in June 2008. In April 12, 2010, Avon Products announced that four executives have been suspended in connection with an alleged bribery that began with the company's China operation as early as 2008.
When Avon Products back in 2008 disclosed its internal investigation of its China operations, focusing on compliance with the Foreign Corrupt Practices Act, Avon Products shares declined from over $38 per share in the beginning of October 2008 to $24.42 per share on October 20, 2008.
In October 2011 Avon Products reported its third quarter 2011 results. On the same day Avon Products also reported its quarterly report with the U.S. Securities and Exchange Commission. Among other things, Avon Products also disclosed that on October 26, 2011, Avon Products received a subpoena from the United States Securities and Exchange Commission (“SEC”) requesting documents and information in connection with a Regulation FD investigation of the Company's contacts and communications with certain financial analysts and other representatives of the financial community during 2010 and 2011. Avon Products said that it was also advised that a formal order of investigation was issued by the SEC relating to the FCPA matters and the Regulation FD matters that are referenced in the subpoena.
In December Avon Products said it would seek a new CEO to replace Andrea Jung, who would remain as chairman of the board of directors.
In December 2011, Avon Products, Inc. announced that in 2012 it will separate the roles of Chairman and Chief Executive Officer and that Avon's Chairman and CEO, will be named Executive Chairman upon a new CEO joining Avon Products, Inc..
Then on January 29, 2012 Avon Products announced that as of January 29, 2012, the Vice Chairman, Developed Market Group of Avon Products, Inc, who joined Avon as CFO in 2005 and stepped down in May 2011, is no longer with Avon Products.
NYSE:AVP stocks dropped from almost $29 in July to $18.97 on October 3, 2011, and from almost $24 on October 24, 2011 to $16.14on December 13, 2011.
Recently NYSE:AVP shares closed as slightly above $18.50 per share.
Those who purchased notes from Avon Products, Inc. (NYSE: AVP) such as 4.800% Notes due 2013, 5.625% Notes due 2014, 5.750% Notes due 2018, or 6.500% Notes due 2019, have certain options and should contact the Shareholders Foundation.
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