Australian Shareholders Hit Treasury With Writedown-Related Lawsuit

Australian shareholders are suing Treasury Wine Estates relating to the wine giant’s July writedown of up to A$160 million ($146m) against excess stock in the market. The suit is being led by Melbourne City Investments, which represents an unknown number of Australian shareholders. The lawsuit alleges that Treasury should have warned sooner of the possibility of a writedown. Separately, litigation funder IMF said late last month that it was also planning legal action against Treasury. Treasury has denied any wrongdoing in the matter.

Tagged : Treasury Wine Estates, wine

GET YOUR FIRST LOOK AT 2025 ESTIMATES AND 2030 PROJECTIONS FOR THE WINE AND SPIRITS INDUSTRIES. ORDER YOUR 2025 IMPACT DATABANK REPORTS. CLICK HERE.