Estee Lauder – Twersky Law Group, a highly regarded and reputable law firm based in New York, wishes to inform investors about a significant development in the form of a class action lawsuit against The Estee Lauder Companies, Inc. (“Estee Lauder” or “the Company”) (NASDAQ: EL) and certain officers of the company. This lawsuit has been filed on behalf of all individuals and entities that purchased or otherwise acquired National Instruments securities from August 18, 2022 through May 2, 2023. (the “Class Period”). Investors who acquired Estee Lauder securities during this defined timeframe are strongly encouraged to participate in this case by contacting email@example.com. The deadline to file a motion for appointment of lead plaintiff is February 5, 2024.
The fundamental objective of this class action lawsuit is to recover for the benefit of investors who purchased Estee Lauder securities during the Class Period, the losses they sustained as a consequence of the misleading statements made by Defendants in violation of the federal securities laws.
ALLEGATIONS AGAINST ESTEE LAUDER
The complaint alleges that defendants misled investors with unrealistic and materially false statements about market demand Estees products and its inventory levels. These statements concealed the truth about Estees 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.
ABOUT ESTEE LAUDER
- The Estée Lauder Companies is a multinational cosmetic and beauty company that operates in the skincare, makeup, fragrance, and hair care industries. The company was founded by Estée Lauder and her husband Joseph Lauder in 1946. Estée Lauder started by selling skincare products developed by her uncle, a chemist, and gradually expanded the business.
- As of my last knowledge update in January 2022, The Estée Lauder Companies owns and manages a diverse portfolio of well-known beauty and skincare brands.
- The Estée Lauder Companies has a global presence and is a major player in the beauty and cosmetics industry. The company’s products are sold in department stores, specialty retailers, and through its own branded stores. Estée Lauder has also embraced e-commerce, making its products available online to a global customer base. It’s important to note that the status and portfolio of companies can change, so it’s advisable to check the latest information for the most up-to-date details on The Estée Lauder Companies.
JOIN THIS CASE
It is important to note that a class action lawsuit has already been filed in connection with these allegations. Therefore, for those individuals who suffered financial losses in their investments in Estee Lauder during the Class Period, there is a limited opportunity to seek appointment as a lead plaintiff. This process entails requesting the Court to designate them as the primary representative on behalf of the entire class. The deadline for submitting such a request is February 5, 2024. It is important to emphasize that while becoming a lead plaintiff can offer certain advantages, participation in the recovery process and the potential for financial compensation does not mandate serving as a lead plaintiff.
Twersky Law Group, a distinguished legal firm renowned for its attorneys expertise in handling securities fraud class actions and shareholder derivative suits, who have a long-standing track record of successfully recovering significant sums of money for investors nationwide. With an unwavering commitment to seeking justice for their clients, the firm’s attorneys are resolute in pursuing fair compensation on behalf of those affected by alleged securities law violations. As with any legal matter, it is essential to understand that this announcement constitutes attorney advertising. Past case outcomes and results achieved do not guarantee similar outcomes in this particular case.