Avon Files for Bankruptcy in US Amid Mounting Talc Lawsuits

In 2010, the cosmetics giant faced its first legal claim alleging its talc products were contaminated with asbestos. The owner of cosmetics giant Avon has filed for bankruptcy in an effort to resolve mass lawsuits alleging talc powder in its products contained cancer-causing asbestos. While API has not sold products in the United States since it divested its North American business in 2016, it remains the holding company of the brand’s non-U.S. operating entities. According to the press release, Brazil-based Natura, which bought Avon in 2020, has agreed to buy...