Treasury Wine Estates
(ASX:TWE) has settled a shareholder class action for market disclosures that occurred in 2013 for $49 million.
The settlement of the claim was announced in Federal Court this morning before Justice Foster.
Treasury Wine Estates says the agreement to settle was a commercial decision made in the best interests of TWE shareholders and comes without any admission of liability.
TWE also says the $49 million settlement will have no impact on the company’s financial results.
Shares in Treasury Wine Estates
(ASX:TWE) are trading 0.14 per cent higher to $13.98.
