Richard L. Cassin Publisher and Editor

Andy Spalding Senior Editor

Jessica Tillipman Senior Editor

Elizabeth K. Spahn Editor Emeritus

Cody Worthington Contributing Editor

Julie DiMauro Contributing Editor

Thomas Fox Contributing Editor

Marc Alain Bohn Contributing Editor

Bill Waite Contributing Editor

Shruti J. Shah Contributing Editor

Russell A. Stamets Contributing Editor

Richard Bistrong Contributing Editor 

Eric Carlson Contributing Editor

Bill Steinman Contributing Editor

Aarti Maharaj Contributing Editor

FCPA Blog Daily News

« Journalists Killed For Covering Graft | Main | FCPA Defendants Face The Verdict Of History »

Avon's Pricey Looking Glass

In the New York Times' DealBook, Peter Henning had a terrific post about the cost of Avon Products' internal FCPA investigation.

The company's legal fees and costs for outside counsel conducting the investigation were $59 million in 2009, $95 million in 2010, and $22.5 for the first quarter of this year, said Henning, a Wayne State University Law School prof who writes the DealBook's White Collar Watch.

"The final tally for the internal investigation could easily reach $250 million," according to Henning, "a significant expenditure for any company to bear."

After the investigtion, Henning said, Avon is likely to end up paying millions more to settle FCPA claims by the DOJ and SEC.

Henning's conclusion: "While crime does not pay, it sure can be lucrative for law firms."

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