Schatz & Nobel, P.C. Announces Class Action Lawsuit Against Avon Products, Inc.

Schatz & Nobel, P.C. Announces Class Action Lawsuit Against Avon Products, Inc. 


HARTFORD, Conn., Aug. 1  /PRNewswire/ -- The law firm of Schatz & Nobel, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of New York on behalf of all persons who purchased the common stock of Avon Products, Inc. (NYSE:AVP) ("Avon") between  April 8, 2005 and July 18, 2005, inclusive (the "Class Period").

Schatz & Nobel, P.C. also has substantial experience representing employees who suffered losses from purchases of their employer's stock in their 401 (k) plans.  If you bought Avon stock through your Avon retirement account and have information or would like to learn more about these claims, please contact us.

The Complaint alleges that Avon violated federal securities laws by issuing misleading public statements.  Specifically, defendants failed to disclose the following: (i) that Avon was experiencing increasing resistance to its expansion efforts in China; (ii) that Avon's revenue growth in its Central and Eastern Europe markets was dramatically slowing from internally forecasted levels such that Avon would not reach its earnings projections; (iii) that Avon's expansion efforts in Russian were being delayed due to a variety of adverse factors.

On July 19, 2005, Avon announced that its earnings for the second quarter of 2005 would be below expectations because of two factors: (i) "an unexpected temporary decline in China as Beauty Boutique owners reacted with concern to the imminent resumption of direct selling in that country"; and (ii) "lower- than-anticipated revenue growth in Central and Eastern Europe resulting from underperformance of several key marketing offers as well as delayed expansion into new geographies within Russia."  On this news, Avon stock closed at $31.30 per share, a decline of $5.30 per share from the previous day's close.

If you are a member of the class, you may, no later than September 27, 2005, request that the Court appoint you as lead plaintiff of the class.  A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation.  Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s).

While Schatz & Nobel has not filed a complaint, to view a copy of the Complaint initiating the class action or for more information about the case, class action cases in general, and your rights, please contact Schatz & Nobel toll-free at [phone], or by e-mail: , or visit our website: http://www.snlaw.net/.

  CONTACT:   Wayne T. Boulton or Nancy A. Kulesa
  Tel.: [phone]
  Website: http://www.snlaw.net/
  e-mail: 

DATASOURCE: Schatz & Nobel, P.C.



CONTACT:  Wayne T. Boulton or Nancy A. Kulesa of Schatz & Nobel, P.C.,

[phone], 



Web site:  http://www.snlaw.net/

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