Avon Settlement With Feds Over Bribery Charges Could Reach $132 Mil.
This article was originally published in The Rose Sheet
Firm is optimistic that an end to negotiations with federal agencies regarding alleged misconduct in China could be on the horizon. However, the firm’s sales continue to suffer as the firm labors to right its business.
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Avon says the impact of a settlement with the U.S. Securities and Exchange Commission and Department of Justice to resolve investigations into its foreign business practices in recent years could be significantly greater than planned for. Meanwhile, the firm works to rebuild its direct-sales platforms in North America, where declines in field representatives have created a drag on revenue.
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