PR Newswire
NEW YORK, Jan. 23, 2024
NEW YORK, Jan. 23, 2024 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in The Estee Lauder Companies Inc. ("Estee" or the "Company") (NYSE: EL) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Estee investors who were adversely affected by alleged securities fraud between August 18, 2022 and May 2, 2023. Follow the link below to get more information and be contacted by a member of our team:
https://zlk.com/pslra-1/este-lawsuit-submission-form?prid=64366&wire=4
EL investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
CASE DETAILS: According to the complaint, 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.
WHAT'S NEXT? If you suffered a loss in Estee during the relevant time frame, you have until February 5, 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP
