business / news / / Reuters
A preliminary all-cash settlement of the proposed class action was filed on Thursday in Manhattan federal court.
Estee Lauder agreed to a preliminary all-cash settlement over allegations it concealed daigou-related sales risks.
KEY POINTS
- Shareholders allege Estee failed to promptly disclose the impact of China's 2022 crackdown on daigou sales.
- Judge Subramanian previously rejected Estee's dismissal attempt, citing omitted negative sales information.
- Shareholder lawyers will request up to 32% of the settlement fund, amounting to $67.2 million in fees.
COMPANIES
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