|Claim Period:||17-Aug-12 to 14-Jul-13|
|Shares traded in Period (m):||972.9|
|Price change on disclosure:||-$0.71|
|Market Cap Drop ($m):||459.5|
NSW Registry, Federal Court of Australia (NSD 660 of 2014).
Brian Jones v Treasury Wine Estates Ltd.
Date of Filing
2 July 2014.
Solicitors for Applicant
Solicitors for Respondent
Herbert Smith Freehills – Peter Holloway.
Status of Claim
Settlement approved on 10 November 2017. The status of the related claim by Melbourne City Investments Pty Ltd (NSD216/2015) is unknown.
Initially, the class was for investors who:
(a) bought Treasury Wine Estate (‘TWE’) shares from 17 August 2012 to 14 July 2013; and
(b) had signed a funding agreement with IMF Bentham before 1 July 2014.
TWE failed to disclose material information:
(a) concerning the ongoing performance of its US operations; and
(b) in relation to its expected financial performance for the financial years ending 30 June 2013 and 30 June 2014, predominantly arising from issues encountered by its US operator.
1. Opt Out Notice (23 March 2017).
2. Class Closure (20 June 2017).
3. Costs Order (9 August 2017).
4. Settlement Orders (10 November 2017).