Ex-Estée Lauder Worker Advances Would-Be Class Suit Over 401(k)

Estée Lauder Cos. must face proposed class claims that it mismanaged its $1.6 billion 401(k) plan by failing to rein in administrative costs or remove expensive and poorly performing investments, according to an order from a federal judge in Manhattan.

Judge Jesse M. Furman of the U.S. District Court for the Southern District of New York on Monday denied the global cosmetic brand’s motion to dismiss the Employee Retirement Income Security Act lawsuit. Furman’s order didn’t include a written explanation for the decision; rather, he said he’d explain his reasons orally during pretrial conference scheduled for July 8.

The ...