THE WHAT? The Estee Lauder Companies has agreed to settle a class action lawsuit that alleges the US prestige beauty giant breached its fiduciary duties under the Employee Retirement Income Security Act (ERISA) by charging excessive fees.

THE DETAILS Terms of the settlement were not disclosed, per Pensions & Investments quoting an agreement in principle filed in a New York District Court. The settlement is due to be rubber stamped by the court next month.

THE WHY? While details of the settlement are pending, we can only speculate that Lauder will both avoid the cost of litigation and, as is standard in settlements reached via mediation, will not need to admit liability.