Overview

• Estee Lauder is facing a class action lawsuit for allegedly misleading investors with false statements about market demand and inventory levels.
• The lawsuit was filed on behalf of all who purchased or otherwise acquired Estee common stock between August 18, 2022 and May 2, 2023.
• On May 3, 2023, Estee Lauder announced weaker sales and profit for the year than estimated and cut its fiscal year outlook for a third consecutive time.
• The price of Estee stock declined from $245.22 per share on May 2, 2023 to $202.70 per share on May 3, 2023.
• Investors have until February 5, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.