The latest chapter of the Deciem drama includes a restraining order.
A Canada judge has granted the Estée Lauder Cos. a restraining order against Deciem founder Brandon Truaxe. Signed Friday, Oct. 19, the order bars Truaxe from all forms of communication with Leonard Lauder, chairman emeritus of Lauder, and Andrew Ross, executive vice president of strategy and new business development.
It also prohibits Truaxe from entering Lauder offices or being within 300 meters of Lauder or Ross' respective residences.
The order came after Truaxe was removed from Deciem via court order on Oct. 12.
Earlier this month, Truaxe posted on the Deciem Instagram account a video of him saying, "this is the final post of Deciem, which will shut down all operations until further notice, which is about two months.…Please take me seriously.…Almost everyone at Deciem has been involved in a major criminal activity, which includes financial crimes."
In a matter of days all Deciem stores had closed, and Lauder — which owns 28 percent of the company — filed for injunctive relief in Canada, where the company is based. That relief removed Truaxe as chief executive officer and as a board member of the company, and appointed PricewaterhouseCoopers to investigate the alleged crimes.
For more from WWD.com, see:
What's Next for Deciem?
Deciem Drama Underscores Potential Risks of Strategic Minority Investments
Deciem Drama Heads to Canadian Court
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