Cosmetics maker Avon has been cleared of the bribery charges it faced in China by a New York Judge, in a case that had been ongoing for a number of years.
The global cosmetics firm is concerned that its business could be affected by the Securities and Exchange Commission's recent proposal of a much larger penalty to settle bribery allegations than it had initially expected.
Global cosmetics firm Avon remains tight-lipped as federal prosecutors investigating whether U.S. executives at the company broke foreign-bribery laws present evidence in the probe to a grand jury.
