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LOVEMAN v. LAUDER

No. 06 Civ. 2802(LAK).

484 F.Supp.2d 259 (2007)

Miriam LOVEMAN, Plaintiff, v. Leonard A. LAUDER, et al., Defendants, and The Estée Lauder Companies, Inc., Nominal Defendant.

United States District Court, S.D. New York.

May 2, 2007.

Attorney(s) appearing for the Case

Robert I. Harwood, Samuel K. Rosen, Wechsler Harwood LLP, for Plaintiff.

Jonathan D. Polkes, Ashley R. Altschuler, Joshua S. Amsel, Weil, Gotshal & Manges LLP, for Defendants and Nominal Defendant.

MEMORANDUM OPINION

KAPLAN, District Judge.

The Estee Lauder Companies Inc. ("ELC") saw its stock decline sharply in 2005 as Wall Street became disappointed with its financial performance. As has occurred with other companies in like circumstances, the ELC price decline led to class actions in which the plaintiffs claimed that the company had misled the investing public in order to prop up its stock, only to have the bad news eventually come out to the detriment...

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