Supreme Court of Victoria (S ECI 2020 01590).
Brett Stallard as trustee for the Stallard Superaunnuation Fund v Treasury Wine Estates Ltd
Solicitors for Applicant
Slater and Gordon.
Slater and Gordon is still considering the available funding options
On 14 February 2019, TWE released to the ASX a document entitled Interim 2019 Results, in which the company stated that an EBITS growth rate of approximately 15% to 20% was expected for FY20 (the EBITS Growth Representation).
On 15 August 2019, TWE released to the ASX a document entitled 2019 Annual Results Announcement, in which the company:
- repeated the EBITS Growth Representation;
- said that group FY20 EBITS result would be delivered by growth in all markets, through continued top line growth and premiumisation as well as ongoing operational efficiency.
(together, the FY20 Guidance)
On 16 October 2019, TWE released to the ASX a copy of the investor presentation and speaking notes from its Annual General Meeting, in which it reaffirmed the FY20 Guidance.
On 28 January 2020, TWE released the FY20 Downgrade.
The market’s reaction to the FY20 Downgrade was substantial, with the price of TWE shares falling by approximately 20% over the following trading days.
Potential Class Members
Shareholders who purchased shares in Treasury Wine Estates between 14 February 2019 to 28 January 2020 inclusive (the Claim Period).
Capacity to Join