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The filed complaint alleges that The Este Lauder Companies Inc. made materially false and/or misleading statements and/or failed to disclose that: 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. Following this news, Estée Lauder's stock price fell over 20% on the same day.
In order to be eligible to join the EL class action lawsuit, you must have incurred a loss on shares of The Este Lauder Companies Inc. purchased during the class period listed above.
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