Estée Lauder Would Pay $210 Million Under Proposed Settlement

Estée Lauder Cos. has agreed to a $210 million settlement in a proposed securities class action over its Chinese gray-market sales messaging.

The institutional investors suing the company filed an unopposed request in the US District Court for the Southern District of New York Thursday, asking a federal judge to approve the deal with the cosmetic giant. The settlement amount would be one of the 100 largest securities class action settlements of all time, according to a brief supporting the deal.

The plantiffs told Judge Arun Subramanian that the pact between investors and the New York-based beauty company is fair ...