Final Judgment Reached in Lawsuit Against Avon Products
Proof Of Claim Deadline: December 19, 2020
Class Period: January 21, 2016-November 01, 2017
Recovered:
$14.5 Million
On February 3, 2021, the Honorable Mary Kay Vyskocil signed an order of final judgment and dismissal in the case captioned In re Avon Products, Inc. Securities Litigation, 19-cv-01420-MKV (S.D.N.Y).
The settlement in this case was preliminarily approved on August 31, 2020, and a copy of that order is available here.
The settlement provided for the payment of $14.5 million to eligible class members. Lead Plaintiff Holly Ngo alleged violations of §§ 10(b) and 20(a) of the Securities Exchange Act of 1934 based on false and misleading misstatements made by the company that allegedly concealed from shareholders that it had loosened its credit standards for the recruitment of new representatives in Brazil.
