NEW YORK CITY, NY / ACCESSWIRE / November 12, 2024 / Pomerantz LLP is investigating claims on behalf of investors of The Estée Lauder Companies Inc. ("Estée Lauder" or the "Company") (NYSE:EL). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Estée Lauder and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On October 31, 2024, Estée Lauder issued a press release announcing its fiscal 2025 first quarter results. Among other items, Estée Lauder reported revenue of $3.36 billion, missing consensus estimates and representing a decline of 4.5% from the same period in the prior year. Estée Lauder attributed the results to "worsened consumer sentiment in China" and "lower replenishment orders in Asia travel retail," among other factors. The Company declared a quarterly dividend of $0.35 per share, a reduction of its previous quarterly dividend of $0.66 per share.
On this news, Estée Lauder's stock price fell $18.21 per share, or 20.89%, to close at $68.94 per share on October 31, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
SOURCE: Pomerantz LLP
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