Avon Products, Inc. Securities Fraud Class Action

Case Background:

This is a federal securities fraud class action on behalf of all persons and entities that purchased or otherwise acquired Avon Products, Inc. (“Avon”) common stock between January 21, 2016 and November 1, 2017, both dates inclusive (the “Class Period”). On February 14, 2019, the initial complaint in this securities class action was filed against Avon and certain of Avon’s officers and directors, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. 

The complaint alleges that in order to inflate its reported revenue and representative growth metric during the Class Period, Avon engaged in an undisclosed scheme whereby it significantly loosened its credit terms in order to recruit new representatives in Brazil, its largest market. Avon did not disclose the changes to its credit terms in Brazil. Avon also failed to increase its allowance for doubtful accounts to account for the changes to its credit terms in Brazil.

Current Status of Case:

On February 3, 2021, the Court granted Final Approval of the Settlement. This action has concluded. 

f you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com.