NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against The Estee Lauder Companies Inc. (“Estee” or the “Company”) (NYSE: EL) in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired Estee common stock between August 18, 2022 and May 2, 2023, both dates inclusive (the “Class Period”). Investors have until February 5, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Click here to participate in the action.
The filed complaint alleges that defendants misled investors with unrealistic and materially false statements about market demand Estee’s products and its inventory levels. These statements concealed the truth about Estee’s weakness in the market until, on May 3, 2023, Estee announced weaker sales and profit for the year than estimated and accordingly cut its fiscal year outlook for a third consecutive time.
As a result, the price of Estee stock declined from $245.22 per share on May 2, 2023 to $202.70 per share on May 3, 2023.
If you purchased or otherwise acquired Estee shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
