SEC won't recommend action against Avon over analyst contact
FILE - In this file photo made Nov. 15, 2005, a saleswoman, who did not give her name, places items for a picture on display in an Avon store in New York. (AP Photo/Gregory Bull, File)
Published Friday, September 14, 2012 9:40AM EDT
NEW YORK -- Avon Products Inc. says the Securities and Exchange Commission has decided it won't recommend any action against the beauty products company over whether Avon contacted analysts inappropriately during a separate bribery investigation.
The end of the investigation into analyst contacts is a plus for the company which is trying to turn around its financial performance.
But Avon is still dealing with a wider probe into whether Avon paid bribes in China and other countries starting in 2008. The SEC and the Justice Department are also investigating the matter.
In August, Avon said it was working toward resolving those investigations. Avon declined to comment on Friday.