Estee Lauder faces US legal challenge over China sales practices [Yahoo! Finance]
Estee Lauder Companies, Inc. (The) (EL)
Last estee lauder companies, inc. (the) earnings: 5/1 06:45 am
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Source: Yahoo! Finance
its overdependence on improper gray-market sales in China, a federal judge in Manhattan ruled on Monday. U.S. District Judge Arun Subramanian said shareholders identified "several misleading omissions" and "half-truths" in Estee disclosures, related to the negative sales impact from a January 2022 government crackdown on the "daigou" gray market. Shareholders in the proposed class action said Estee became dependent in China on "daigou," or duty-free purchases by resellers, after the COVID-19 pandemic began, especially in the Hainan province. They said the New York-based company concealed the truth about how the crackdown was hurting sales until November 1, 2023, causing its shares to plunge 19% and wiping out about $8.7 billion of market value. "Defendants attributed the decline to everything but the crackdown and reassured investors that an upswing was coming soon," Subramanian wrote. "What matters is that Estée Lauder touted the reasons for its success while leaving out th
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EL
Earnings
- 10/30/25 - Beat
EL
Sec Filings
- 12/16/25 - Form 4
- 12/16/25 - Form 4
- 12/16/25 - Form 4
- EL's page on the SEC website