Avon Urged to Slow Bankruptcy While Cancer Victims Get Organized.

Avon Products Inc., a beauty brand, is facing nearly 400 lawsuits alleging that their talc products caused cancer due to the presence of asbestos. A lawyer representing the alleged victims has requested that Avon slow down its bankruptcy case to allow time for a special committee to be formed to represent the victims' interests. Avon Products, which is owned by Brazil-based Natura & Co, has filed for bankruptcy due to the financial strain caused by the lawsuits. The company plans to sell its assets, with Natura offering to buy it for $125 million. [Extracted from the article]

Copyright of Bloomberg.com is the property of Bloomberg, L.P. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)