SAN DIEGO, April 01, 2024 (GLOBE NEWSWIRE) — Robbins LLP is investigating allegations that certain officers and directors of The Estee Lauder Companies Inc. (NYSE: EL) misled investors with unrealistic and materially false statements about market demand and its inventory levels. According to a class action complaint filed in December 2023 against Estee Lauder, the truth was revealed on May 3, 2023, when Estee Lauder issued a press release announcing weaker sales and profit for the year than estimated and cut its fiscal year outlook for the third consecutive time. As a result, the price of Estee Lauder stock declined from $245.22 per share on May 2, 2023 to $202.70 per share on May 3, 2023.
What Now: For more information about our investigation and your shareholder rights, submit a form, email Aaron Dumas, Jr., or give us a call at (800) 350-6003.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders.
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