Avon Says U.S. Rejects $12 Million Offer to Settle Probes
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Avon Products Inc., the world’s largest door-to-door cosmetics seller, said the U.S. rejected the company’s offer to pay $12 million to resolve investigations into whether executives bribed foreign officials.
The Justice Department and the Securities and Exchange Commission rejected an offer made in June, including the payment of monetary penalties, the company said today in its quarterly filing with the SEC. Avon said it expects a counteroffer.