By  on October 31, 2013

Avon Products Inc.'s shares fell nearly 22 percent Thursday after the beauty firm reported a third-quarter net loss and decline in sales as it continued to struggle in key markets.

The impact was worsened by the company’s disclosure that a potential settlement of the ongoing Foreign Corrupt Practices Act investigation, related to bribery allegations in China, could cost significantly more than Avon’s earlier offer to the U.S. Department of Justice and the Securities and Exchange Commission of $12 million, which was rejected in June.

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