After a six-year investigation that cost the company upwards of $344 million, Avon has resolved FCPA charges with the DOJ and SEC, agreeing to pay $135 million in penalties. In a guest article, Michelle J. Shapiro and Kiran Patel, partner and associate, respectively, at Dentons, analyze the settlements and draw three anti-corruption compliance lessons from the saga. See also “Avon Class Action Dismissal Illustrates Challenges of FCPA-Related Shareholder Derivative Suits” (Oct. 22, 2014).