Supreme Court of Victoria.
Date of Filing
1 May 2020.
Steven Napier v Treasury Wine Estates Limited.
Solicitors for Applicant
The class action is being conducted by Maurice Blackburn on a No Win No Fee basis.
The claim alleges Treasury Wine Estates Limited (TWE) breached its continuous disclosure obligations, and engaged in misleading or deceptive conduct.
On 28 January 2020 TWE downgraded its FY2020 EBITS growth forecast to 5% to 10% (from 15% to 20% which was first announced on 14 February 2019 and specifically reaffirmed on a number of occasions).
TWE’s share price dropped approximately 20% over the two trading days following the 28 January 2020 announcement.
Shareholders who acquired TWE shares in the period from 30 June 2018 to 28 January 2020.
Capacity to Join