Kahn Swick & Foti, LLC and Partner Former Louisiana Attorney General, Charles C. Foti, Jr., Notify Investors of Lawsuit Against
16 July 2011 - 3:55AM
Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former
Attorney General of Louisiana, Charles C. Foti, Jr., notify
investors that they may move to file lead plaintiff applications in
a securities fraud class action lawsuit against Avon Products, Inc.
("Avon" or the "Company") (NYSE:AVP). The lawsuit was filed in the
United States District Court for the Southern District of New York
on behalf of purchasers of the common stock of Avon of during the
period between July 31, 2006 and May 24, 2011, inclusive (the
"Class Period").
What You May Do
If you are an Avon shareholder and would like to discuss your
legal rights and how this case might affect you and your right to
recover for your economic loss, you may, without obligation or cost
to you, e-mail or call KSF Managing Partner, Lewis Kahn
(lewis.kahn@ksfcounsel.com), toll free, 877-515-1850, or via cell
phone any time at 504-301-7900. If you wish to serve as a lead
plaintiff in this class action by overseeing lead counsel with the
goal of obtaining a fair and just resolution, you must request this
position by application to the Court by September 6, 2011. Any
member of the putative class may move the Court to serve as lead
plaintiff through counsel of their choice, or may choose to do
nothing and remain an absent class member. KSF also encourages
anyone with information regarding Avon's conduct during the period
in question to contact the firm, including whistleblowers, former
employees, shareholders and others.
About the Lawsuit
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the Company's failure
to disclose during the Class Period that: (i) the Company engaged
in the illegal practice of paying bribes to foreign officials in
violation of the Foreign Corrupt Practices Act ("FCPA"); (ii) the
Company's sales and revenue in China and other emerging markets
were dependent on its illegal bribery practices and were,
therefore, not sustainable; and (iii) that the Company's internal
controls were severely deficient. As the truth about these illegal
payments emerged, the price of Avon stock declined significantly
and investors suffered material damages and losses.
To learn more about KSF, you may visit www.ksfcounsel.com.
CONTACT: Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner, 877-515-1850
or after hours via cell phone 504-301-7900
lewis.kahn@ksfcounsel.com
206 Covington St.
Madisonville, LA 70447
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