NEW YORK, Dec. 07, 2023 (GLOBE NEWSWIRE) — The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired common stock of The Estee Lauder Companies, Inc. (“Estee” or the “Company”) (NYSE: EL) between August 18, 2022 and May 2, 2023, both dates inclusive. You are hereby notified that the class action lawsuit Bridgett McAlice v. The Estee Lauder Companies, Inc., et al. (Case No. 1:23-cv-10669) has been commenced in the United States District Court for the Southern District of New York. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.
The 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 suffered a loss in EL common stock, 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.
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
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
