Estée Lauder CEO Fabrizio Freda made a shocking revelation during an analyst call: A “small group of employees” intentionally altered test results behind some of the company’s advertising claims. The disclosure, while momentous, was mitigated by the fact that the situation was discovered internally and led to a comprehensive review of the company’s product claims support. The company’s stock fell following the announcement but has since largely recovered. Find out if the disclosure had any lasting impact on the company’s financials or image, and learn how analysts reacted.