ASX Shareholder Claims

Solicitors for Applicant

Slater and Gordon.

Funder

Unknown.

Claim Overview

Slater and Gordon are investigating a potential claim against Treasury Wine Estates Limited (TWE) on behalf of persons that acquired TWE securities prior to a market announcement made late on 28 January 2020.

On 14 February 2019, TWE announced earnings before interest, tax, SGARA and material items (EBITS) growth rate of approximately 15% to 20% was expected for FY20. This was repeated in an announcement on 15 August 2019. On 28 January 2020 TWE announced that:

• EBITS growth was now expected to be at a rate of 5% to 10%
• TWE’s Americas division reported a 17% decline in EBITS and an EBITS margin of 16.1%.

The price of TWE shares fell approximately 20% over the trading days following the 28 January 2020 announcement.

Claims potentially available to eligible shareholders may include breach of continuous disclosure obligations, misleading and deceptive conduct.

Potential Class Members

Initial investigations support a claim on behalf of shareholders who purchased TWE shared between 15 August 2019 and 28 January 2020 inclusive.

Slater and Gordon is currently investigating whether the claim period can be extended to commence 14 February 2019. Registrants will be notified of the scope of the proposed claim, once it has been determined.