SEC Clears Avon of One Charge

The news sent its shares up almost 2% today. The end of the investigation into analyst contacts is a plus for the company which is trying to turn around its financial performance as new CEO Sheri McCoy settles into the job, according to an Associated Press report.


Still, Avon must contend withwider probes into whether Avon paid bribes in China and other countries. The problems began in 2008, when it started to investigate possible bribery in China related to travel, entertainment and other expenses, and soon widened the probe to other countries. The internal probe led to the New York company firing vice chairman and former chief financial officer Charles Cramb in January along with four other executives.

The SEC and the Justice Department are also investigating the matter, according to the Associated Press.