Treasury Wine Estates (ASX:TWE) acknowledges class action

Company News

by Rachael Jones

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.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.