Lawsuit filed for Investors who lost money with shares of The Estée Lauder Companies Inc. (NYSE: EL)

An investor, who purchased shares of The Estée Lauder Companies Inc. (NYSE: EL), filed a lawsuit over alleged violations of Federal Securities Laws by The Estée Lauder Companies Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of The Estée Lauder Companies Inc. (NYSE: EL) have certain options and for certain investors are short and strict deadlines running. Deadline: February 5, 2024. NYSE: EL investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

New York based The Estée Lauder Companies Inc. manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide.On November 2, 2022, The Estée Lauder Companies Inc. announced that it was lowering its full year outlook for fiscal 2023. Among other items, the Company announced net sales of $3.93 billion for its first quarter, a decline of 11% from $4.39 billion in the prior-year period, including negative impacts from foreign currency.

Additionally, organic net sales fell 5%. Estee Lauder attributed these results to headwinds from the COVID-19 restrictions in China, supply chain disruptions and record-high inflation.

Then, on February 2, 2023, Estee Lauder issued a press release announcing that it was again lowering its outlook for fiscal year 2023. Despite the fact that emerging markets in other parts of Asia and the West delivered strong organic net sales growth, the Company blamed its lowered guidance on greater than anticipated challenges of COVID-19 restrictions in China.

Finally, on May 3, 2023, Estee Lauder issued another press release announcing weaker sales and profit for the year than estimated and accordingly cut its fiscal year outlook for a third consecutive time.

Shares of The Estée Lauder Companies Inc. (NYSE: EL) declined from $283.62 per share on February 02, 2023, to $102.22 per share on November 01, 2023.

The plaintiff claims that between August 18, 2022 and May 2, 2023, the defendants misled investors with unrealistic and materially false statements about market demand Estee's products and its inventory levels and that 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.

Those who purchased shares of The Estée Lauder Companies Inc. (NYSE: EL) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.