Law firm investigates Avon over payments to foreign officials
Posted By Stephanie Tripp on July 10, 2011
Citing a newspaper article from the Wall Street Times dated May 4 of this year, the company says that internal investigations have shown that since 2004 the company may have made millions of dollars in unofficial payments to officials all over the world.
The law firm highlights that, beyond China, the company may also have made illegal payments to officials in countries including Brazil, Mexico, Argentina, India and Japan.
The internal investigations were begun in June of 2008, aimed at discovering whether or not officials at the company had violated the Foreign Currency Practices Act – a law that makes it illegal for US businesses to bribe foreign officials.
Shareholders rights
Finkelstein Thompson says it will provide information for Avon shareholders on their rights in relation to the investigation, as well as asking if any shareholders have any information relating to the matter.
Once Avon had confirmed that it was expanding its corruption investigation in China, federal prosecutors stated they wanted to interview more staff as part of the expanded investigation.
The Wall Street Journal report stated that the US Federal prosecutors in New York City confirmed that they had questioned a number of former Avon staff, and also confirmed that they wanted to expand the investigation to question yet more staff.
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