Estee Lauder faces US legal challenge over China sales practices [Yahoo! Finance Canada]
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 Canada
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 the parts of the truth it found inconvenient," he continued. "The telling of half-truths -- that's what the securities laws don't tolerate." The Estee defendants also include former Chief Executive Fabrizio Freda and former Chief Financial Officer Tracey Travis. Estee and lawyers for the defendants did not immediately respond to requests for commen
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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