Avon Seeks Approval in U.S. of $62 Mil Accord Over China Bribery

From Reuters

Avon Products Inc is seeking approval of a $62 million settlement of a U.S. lawsuit accusing the cosmetics company of defrauding shareholders by concealing its failure to stop workers from bribing officials in China to win business.

The proposed settlement was filed on Tuesday with the U.S. District Court in Manhattan and requires a judge's approval.

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