The Securities and Exchange Commission has filed a lawsuit in connection with the strange buyout offer made to Avon last month, according to CNBC.
In trading on Thursday morning, shares of Avon were lower but little changed.
The stock rocketed nearly 20% on May 14 after a filing on the SEC’s Edgar website indicated PTG Capital Partners was offering to buy Avon for $US18.75 per share.
The company said it hadn’t received any such offer.
More to come…