Treasury Wine Estates (ASX:TWE) has been served with a group proceeding filed against them in the Supreme Court of Victoria.
The proceeding has been filed by Slater + Gordon on behalf of the plaintiff, who brings the claim on behalf of shareholders who acquired an interest in TWE shares between 14 February 2019 and 28 January 2020.
The statement of claim includes allegations of contraventions of the Corporations Act in relation to continuous disclosure and the Corporations Act and ASIC Act in relation to misleading or deceptive conduct.
Treasury Wine Estates strongly denies any and all allegations of wrongdoing and intends to vigorously defend the proceeding.
Shares in Treasury Wine Estates (ASX:TWE) are trading 0.51 per cent higher at $9.81.