The Klein Law Firm announces that a class action complaint has been filed on behalf of investors who purchased shares of Avon Products, Inc. (“Avon”) (NYSE: AVP) between August 2, 2016 and August 2, 2017. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: In order to inflate its reported revenue and representative growth metric during the Class Period, Avon engaged in an undisclosed scheme whereby it significantly loosened its credit terms in order to recruit new representatives in Brazil, its largest market. Avon did not disclose the changes to its credit terms in Brazil. Avon also failed to increase its allowance for doubtful accounts to account for the changes to its credit terms in Brazil.
Shareholders have until April 15, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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