Estee Lauder Cos. (EL) said Wednesday it has been hacked by an unauthorized third party and has taken down some of its systems as it investigates what data has been accessed. In a regulatory filing, the cosmetics company said the incident has caused and is expected to continue to cause, disruption to parts of its business operations. “The company is implementing measures to secure its business operations and will continue taking additional steps as appropriate,” the company said in the filing. The stock has fallen 24% in the year to date, while the S&P 500 has gained 18.6%.
-Ciara Linnane
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07-19-23 0705ET
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