Avon Products, Inc. - Securities Class Action

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Copyright (c) 2001
Stanford Law School

Avon Products, Inc. Summary: According to a press release dated July 7, 2011, the defendants violated Sections 10(b), 14(a) and 20(a) of the Securities Exchange Act of 1934 and the rules and regulations promulgated thereunder, including Rules 10b-5 and 14a-9. The lawsuit was brought on behalf of shareholders who either (1) held the defendant’s 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 (2) purchased or otherwise acquired the defendant’s common stock from July 31, 2006 through and including May 24, 2011.

The complaint alleges that during the Class Period, defendants falsely assured investors that the Company had effective internal controls and accounting systems, as required under the Foreign Corrupt Practices Act (“FCPA”). The company disclosed, in October 2008, that it had begun an investigation into possible FCPA violations in China in June 2008. The plaintiffs allege, however, that the Company had an illegal practice of paying bribes in violation of the FCPA, extending as far back as 2004 and which continued even after its October 2008 disclosure, until as recently as last year. Despite its certifications of the effectiveness of its internal controls, the company’s internal controls were severely deficient, allowing the company to engage in millions of dollars of improper payments in over a dozen countries throughout the Class Period.

On September 29, 2011, the Court issued an Order appointing lead plaintiffs and lead counsel.

On March 16, 2012, the plaintiffs filed an Amended Complaint For Violations Of The Federal Securities Laws.

INDUSTRY CLASSIFICATION:
SIC Code: 2844
Sector: Consumer Non-Cyclical
Industry: Personal & Household Products

COMPANY/ISSUER NAME:	Avon Products, Inc.
COMPANY/ISSUER TICKER:	AVP
COMPANY WEBSITE:	http://www.avon.com/

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

CITY OF BROCKTON RETIREMENT SYSTEM, et al. v. Avon Products, Inc. , et al.

COURT: S.D. New York	DOCKET NUMBER: 11-CV-04665
JUDGE NAME: Hon. Paul G. Gardephe
DATE FILED: 07/06/2011	SOURCE:
CLASS PERIOD START: 07/31/2006	CLASS PERIOD END: 05/24/2011
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Berman DeValerio (Boston) One Liberty Square, Boston, MA, 02109 (voice) 617.542.8300, (fax) 617.542.8300, Cohen Milstein Sellers & Toll PLLC (New York) 88 Pine Street, 14th Floor, New York, NY, 10022 (voice) 212.838.7797, (fax) 212.838.7797, _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Demand for Jury Trial
Type: Complaint		Date on the document: 07/07/2011
Stipulation And Order Appointing Lead Plaintiffs And Lead Counsel
Type: Order		Date on the document: 09/29/2011
U.S. District Court Civil Docket
Type: Docket		Date on the document: 03/16/2012

REFERENCE COMPLAINT

City of Brockton Retirement System, et al. v. Avon Products, Inc., et al.

COURT: S.D. New York	DOCKET NUMBER: 11-CV-04665
JUDGE NAME:
DATE FILED: 03/16/2012	SOURCE:
CLASS PERIOD START: 07/31/2006	CLASS PERIOD END: 10/26/2011
TYPE OF COMPLAINT: First Amended
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Motley Rice LLC (Mount Pleasant) 28 Bridgeside Boulevard, Mount Pleasant, SC, 29464 (voice) 843.216.9000, (fax) 843.216.9450, inquiry@motleyrice.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 1

DOCUMENTS FOR THE REFERENCE COMPLAINT
Amended Complaint For Violations Of The Federal Securities Laws
Type: Complaint		Date on the document: 03/16/2012

OTHER DOCUMENTS

Case Name and/or Number:
Type:		Date on the document:

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