The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Business Wire

Glancy Binkow & Goldberg LLP Announces Investigation of Avon Products, Inc.

Thursday, April 05, 2012

Glancy Binkow & Goldberg LLP Announces Investigation of Avon Products, Inc.18:42 EDT Thursday, April 05, 2012 LOS ANGELES (Business Wire) -- Glancy Binkow & Goldberg LLP announces that it is investigating potential claims against the Board of Directors of Avon Products, Inc. (“Avon” or the “Company”) (NYSE: AVP) related to their rejection of a proposal by Coty Inc. to acquire the company. On April 2, 2012 Coty announced that it had offered to purchase the Company for $10 billion or $23.25 per share (the “Proposal”). This investigation concerns whether the Board of Directors of Avon breached their fiduciary duties to stockholders by failing to pursue this opportunity, and whether the Company has disclosed all material information to shareholders about the Proposal. Coty's offer would have provided shareholders with a premium of 27% over the three month volume-weighted average price per share. Given the Company's current troubles including a bribery investigation, the 27% premium appears to be substantial. If you are a shareholder of Avon, if you have information or would like to learn more about our investigation, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by email to This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Glancy Binkow & Goldberg LLPLouis Boyarsky, Esquire(310) 201-9150 or Toll Free at (888)