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Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
Senior Editor

Richard L. Cassin
Editor at Large

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

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

Avon’s Pricey Looking Glass

In the New York TimesDealBook, 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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