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According to the complaint, defendants misled investors with unrealistic and materially false statements about market demand Estee’s products and its inventory levels. These statements concealed the truth about Estee’s weakness in the market until, on May 3, 2023, Estee announced weaker sales and profit for the year than estimated and accordingly cut its fiscal year outlook for a third consecutive time. As a result, the price of Estee stock declined from $245.22 per share on May 2, 2023 to $202.70 per share on May 3, 2023.
In order to be included in the lawsuit, you must have incurred a loss on shares of Estee purchased during the class period listed above.
If you suffered a loss in Estee during the relevant time frame, you have until February 05, 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.