Revlon Tells Bankruptcy Judge Its Shares May Be Worthless

Revlon Inc. told the judge overseeing the cosmetics giant’s bankruptcy that shareholders don’t need a special, company-funded committee to represent them in the Chapter 11 case because there is no evidence the equity is worth anything.

The company urged US Bankruptcy Court Judge David S. Jones in Manhattan to reject the request from minority equity owners in part because low bond prices imply that equity has little hope of recouping…