The Law Offices of Frank R. Cruz Announces Investigation of The Estee Lauder Companies Inc. (EL) on Behalf of Investors
LOS ANGELES–(BUSINESS WIRE)–
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On November 2, 2022, Estee Lauder disclosed that it was lowering its full year financial outlook for fiscal 2023, revealing an 11% decline in net sales, which the Company attributed to Covid-19, supply chain disruptions, and inflation. On this news, Estee Lauder’s stock price fell $16.80, or 8.1%, to close at $189.96 per share on November 2, 2022, thereby injuring investors.
Then, on February 2, 2023, Estee Lauder released its second quarter 2023 financial results and once again, lowered its outlook for fiscal year 2023. On this news, Estee Lauder’s stock price fell $19.63, or 7%, to close at $261.17 per share on February 6, 2023.
Then, on May 3, 2023, Estee Lauder disclosed that it had been experiencing weaker sales and profit for the year than estimated, lowering its guidance for the third time. On this news, Estee Lauder’s stock price fell $42.52, or 17.3%, to close at $202.70 per share on May 3, 2023, thereby injuring investors further.
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If you purchased Estee Lauder securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
[email protected]
www.frankcruzlaw.com
