Motley Rice LLC Announces $62 Million Settlement With Avon Products, Inc.

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Motley Rice LLC

Sep 09, 2015, 08:00 ET

MT. PLEASANT, S.C., Sept. 9, 2015 /PRNewswire/ --

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

CITY OF BROCKTON RETIREMENT SYSTEM, Individually and on Behalf of all Others Similarly Situated,

Plaintiffs,

-vs-

AVON PRODUCTS, INC., ANDREA JUNG, and CHARLES W. CRAMB,

Defendants.

Civil Action No. 11 Civ. 4665 (PGG)

CLASS ACTION

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION SETTLEMENT

TO: ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED ANY AVON PRODUCTS, INC. ("AVON" OR THE "COMPANY") COMMON STOCK FROM JULY 31, 2006, THROUGH AND INCLUDING OCTOBER 26, 2011 (THE "CLASS PERIOD"), AND WHO WERE DAMAGED AS TO ANY SHARES PURCHASED OR ACQUIRED DURING ANY PORTION OF THE CLASS PERIOD (THE "CLASS")

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York, that the above-captioned action has been certified as a class action for purposes of settlement only and that a settlement for $62,000,000 has been proposed. A hearing will be held on December 1, 2015 at 10:00 a.m., before the Honorable Paul G. Gardephe at the United States District Court for the Southern District of New York, Thurgood Marshall United States Courthouse, 40 Foley Square, Courtroom 705, New York, NY 10007 for the purpose of determining: (1) whether the proposed Settlement should be approved by the Court as fair, reasonable, and adequate; (2) whether the Final Judgment and Order of Dismissal with Prejudice should be entered by the Court dismissing the Action with prejudice, and the releases specified and described in the Stipulation and Agreement of Settlement dated July 22, 2015, should be granted; (3) whether the proposed Plan of Allocation is fair, reasonable, and adequate and should be approved; and (4) whether the application of Plaintiffs' Counsel for an award of attorneys' fees and litigation expenses in connection with this Action should be approved. The Court has reserved the right to reschedule the hearing without further notice.

If you are a member of the Class described above, your rights may be affected by this Action and the proposed Settlement thereof. If you have not received the detailed Notice of (i) Pendency of Class Action, Certification of Class, and Proposed Settlement, (ii) Settlement Fairness Hearing, and (iii) Motion for Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice") and Proof of Claim form, you may obtain them by contacting the Claims Administrator:

AVON SECURITIES SETTLEMENT
c/o KCC Class Action Services
P.O. Box 43369
Providence, RI 02940-3369
[email protected]
AvonSecuritiesSettlement.com
(866) 887-6046

Inquiries, other than requests for information about the status of a claim, may also be made to Lead Counsel:

MOTLEY RICE LLC
Gregg S. Levin, Esq.
William S. Norton, Esq.
28 Bridgeside Boulevard
Mt. Pleasant, SC 29464
(843) 216-9000
www.motleyrice.com

Further information may also be obtained by directing your inquiry in writing to the Claims Administrator, KCC Class Action Services, at the address listed above.

If you are a member of the Class and wish to share in the Settlement proceeds, you must submit a Proof of Claim postmarked no later than January 19, 2016, establishing that you are entitled to recovery. As further described in the Notice, you will be bound by any judgment entered in the Action, regardless of whether you submit a Proof of Claim, unless you exclude yourself from the Settlement Class, in accordance with the procedures set forth in the Notice, no later than November 10, 2015. Any objections to the Settlement, Plan of Allocation, or Plaintiffs' Counsel's request for attorney's fees and litigation expenses must be filed and served, in accordance with the procedures set forth in the Notice, such that they are received no later than November 10, 2015.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE ABOUT THIS NOTICE.