Litigation funder IMF Limited
(ASX:IMF) has flagged plans to launch a potential court action against Treasury Wine Estates Limited
(ASX:TWE).
Disgruntled shareholders have been invited to sign up for the class action relating to deceptive and misleading conduct and alleged breaches by Treasury Wine of its continuous disclosure obligations.
The claims relate to the wine maker's disclosures around its troubled US business between 17 August 2012 and 14 July 2013.
IMF has proposed to fund the claims and says it will update the market when legal proceedings commence or if a decision is made not to proceed.
Treasury Wine Estates reported a net profit of $42.7 million in the 2013 financial year.
