NEW YORK, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Attention The Estee Lauder Companies Inc. ("Estee") (NYSE: EL) shareholders:
The Law Offices of Vincent Wong announce that an investigation has commenced into Estee and certain of its officers and directors regarding potential securities fraud. The investigation concerns, in part, the below:
On May 3, 2023, Estee lowered its full year 2023 guidance for the third consecutive time this year erasing almost $900 million from 4Q sales. The Company blamed elevated inventory in China and continued weakness in travel retail due to post-pandemic flying regulations in Asia. Analysts commenting on Estee’s missed guidance raised questions as to the Company’s capabilities relating to forecasting, visibility, and supply-chain agility. Following this news, Estee’s stock price fell by $42.52 per share, or approximately 17% to close at $202.70 per share.
If you suffered a loss on your investment in Estee, contact us about potential recovery by using the link below. There is no cost or obligation to you.
https://www.wongesq.com/pslra-1/este-class-action-submission-form/?prid=53580&wire=3
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
