NEW YORK, May 7 (Reuters) – Estee Lauder has reached a $210 million settlement of a lawsuit accusing the cosmetic giant of defrauding shareholders by concealing its over dependence on improper gray-market sales in China. A preliminary settlement was filed on Thursday in Manhattan federal court, and requires court approval. (Reporting by Jonathan Stempel in […]
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Estee Lauder reaches $210 million settlement of lawsuit over China sales
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NEW YORK, May 7 (Reuters) – Estee Lauder has reached a $210 million settlement of a lawsuit accusing the cosmetic giant of defrauding shareholders by concealing its over dependence on improper gray-market sales in China.
A preliminary settlement was filed on Thursday in Manhattan federal court, and requires court approval.
(Reporting by Jonathan Stempel in New York; Editing by Chris Reese)