Avon's doorbell has been ringing but it's frequently a summons server on the other side. The company, the world's largest direct seller of beauty products, faces at least two new class action lawsuits while it struggles with weak sales and lower earnings.
One of the class action complaints deals with alleged violations of the Employee Retirement Income Security Act (ERISA) and was filed on behalf of individuals whose retirement funds were handled by the Avon Personal Savings Account Plan.
A similar suit was filed earlier this year on behalf of other Avon employees, beneficiaries and associates who had retirement and savings accounts in company plans.
Meanwhile, the New York-based firm announced the retirement of its Chief Financial Officer and said it had hired Gillette's former CFO to replace him.
Some analysts say Avon, whose brands include Anew and Skin-So-Soft, is overdue for a reorganization. It plans to outline its long-term strategy at a meeting with analysts on November 15.
