SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investigation Involving Possible Securities Fraud Violations by Certain Officers and Directors of Avon Products, Inc.

Friday, 15. February 2019 23:50

NEW YORK, Feb. 15, 2019 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces it has commenced an investigation of Avon Products, Inc. (“Avon” or “the Company”) (NYSE: AVP) concerning possible violations of federal securities laws.

On November 3, 2016, Avon filed its Form 10-Q for the quarterly period ended September 30, 2016 and disclosed that its operating expenses and margins had been negatively impacted by higher bad debt expense.

On May 4, 2017, Avon issued a press release announcing its first quarter 2017 results and held a conference call to discuss the results, reporting a net loss of $0.10 per share and a 3% decline in active representatives. On the call, Avon disclosed that—despite earlier assurances that the Brazil bad debt problem had been fully accounted for in 2016—the Company was recording another significant charge for bad debt tied to Avon’s decision to loosen its credit terms to recruit new representatives in Brazil. As a result of this news, the price of Avon stock dropped $1.03 per share to close at $3.62 per share on May 4, 2017, a decline of 22%.

Then on August 3, 2017, Avon issued a press release announcing its second quarter 2017 financial results and held a conference call to discuss the results. The Company reported a net loss of $0.12 per share and a 3% decline in active representatives. To  obtain additional information, go to:

https://www.zlk.com/pslra-1/avon-products-inc-loss-form

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:   
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free:  (877) 363-5972
Fax: (212) 363-7171
www.zlk.com 

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