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Avon Is Facing An Undisclosed SEC Investigation, Says Probes Reporter

Avon Is Facing An Undisclosed SEC Investigation, Says Probes Reporter
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  • Shares of Avon Products, Inc. (NYSE: AVP) spiked above $5.00 per share last week after the company was believed to have been in discussion with private-equity firms regarding a potential sale of itself.
  • Probes Reporter noted that it has been following disclosed and undisclosed SEC investigative activity at the company since October 2012.
  • Probes Reporter added that it is now focusing on a "new but undisclosed" SEC probe.
  • On Tuesday, Probes Reporter, an independent investment research firm that focuses on public company interactions with the SEC, pointed out that there exists a "confirmed," but "undisclosed" SEC investigation into Avon Products.

    "The SEC's confirmation of on-going enforcement proceedings in Aug-2015 could be something new," Probes Reporter wrote.

    Related Link: Avon Discussing Stake With PE Firms

    Three Years Of Investigations

    Probes Reporter continued that it has been following both disclosed and undisclosed SEC investigations against Avon since October 2012. In letters dated December 17, 2014, and August 18, 2015, the SEC has "confirmed this company's involvement in on-going enforcement proceedings."

    'No New' Activity

    The report further noted that Avon "made no new disclosures of SEC investigative activity" since the conclusion of an investigation in December 2014. In addition, the investigation confirmed on August 18, 2015, "appears unrelated" to the previous disclosure.

    Looking Forward

    Finally, Probes Reported stated: "All we know about the SEC probe at this time is that it somehow pertains to the conduct, transactions, and/or disclosures of Avon Products, Inc."

    Shares of Avon were trading lower by 0.52 percent mid-Wednesday afternoon at $3.79, after trading most of the day in positive territory and touching above the $4.00 per share mark.

    Avon didn't immediately respond to a request for comment.

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