NEW YORK, Dec. 22, 2023 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired The Estee Lauder Companies Inc. ("Estee Lauder" or the "Company") (NYSE:EL) securities during the period from August 18, 2022 through May 2, 2023, inclusive. Investors have until February 5, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On November 2, 2022, Estee Lauder announced it was lowering its full year outlook for fiscal 2023. In pertinent part, the Company disclosed 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 five percent. Estee Lauder attributed it to headwinds from the COVID-19 restrictions in China, supply chain disruptions, and record-high inflation. On this news, the price of Estee Lauder shares declined by $16.80 per ...
EL) Investors and Encourages Investors to Contact the Firm Before February 5, 2024>Full story available on Benzinga.com