Estée Lauder Companies has agreed to a $210m all-cash settlement to resolve a shareholder lawsuit alleging it concealed its dependence on grey-market sales in China. Preliminary settlement papers filed in Manhattan federal court in the US, as cited by Reuters, show the proposed agreement is still subject to approval by Judge Arun Subramanian. The litigation centred on claims that the cosmetics group misled investors regarding its reliance on so-called “daigou” sales – a practice whereby resellers buy lu ...