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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.