Estee Lauder Must Face Workers' ERISA Class Claims
By Alexis Shanes (June 8, 2021, 5:31 PM EDT) -- A Manhattan federal judge refused to dismiss a proposed class action from five current and former Estee Lauder Inc. employees who claimed the skincare and makeup giant loaded its $1.6 billion retirement plan with too-expensive investment options.
U.S. District Judge Jesse Furman on Monday didn't provide an explanation for the ruling in the Employee Retirement Income Security Act case, but he said he would address it during a pretrial phone conference scheduled for July 8.
In their June 2020 suit, former Estee Lauder employees Michelle Bilello, Kar Yee Law, Emanuele Caroleo and Palmer McGuinness claimed the 401(k) plan's assets made it...
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