Derivative Suit Against Estée Lauder Crumbles

Law360, New York (May 3, 2007, 12:00 AM EDT) -- A Manhattan district judge has dismissed a derivative lawsuit against executives at Estée Lauder Companies Inc., ensuring the group won’t be forced to pay the skin care giant’s costs in ongoing insider trading litigation.

In a May 2 order, Judge Lewis A. Kaplan approved a motion to dismiss the case because the investor who triggered the suit had failed to properly demand Estée Lauder’s board pursue the action in its own right.

Judge Kaplan said the failure could have been countered if the suit had alleged...
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