SEC Ends 'Tip Off' Probe into Avon (AVP)
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The SEC is ending a probe into Avon (NYSE: AVP) and will not take action as a result of the investigation, according to a filing this week. The disclosure follows a year-long investigation related to whether Chuck Cramb, former vice chairman, shared material information with a Citigroup analyst related to a separate investigation into bribery in China and other emerging market countries. The charges later led to Cramb's firing.
Two months ago the company's CEO Sheri McCoy told investors that Avon was in the early stages of settlement talks for the related bribery probe, which is being handled by the Justice Department and the SEC under the Foreign Corrupt Practices Act.
Two months ago the company's CEO Sheri McCoy told investors that Avon was in the early stages of settlement talks for the related bribery probe, which is being handled by the Justice Department and the SEC under the Foreign Corrupt Practices Act.
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