LOS ANGELES–(BUSINESS WIRE)–#fraud—Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Treasury Wine Estates Limited (“TWE” or the “Company”) (OTC: TSRYY) investors concerning the Company and its officers’ possible violations of the federal securities laws.
If you suffered a loss on your TWE investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information here or contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, via email email@example.com or visit our website at www.glancylaw.com to learn more about your rights.
On January 28, 2020, the Company issued a press release announcing that “based on our revised full year forecast our growth rate in F20 will be lower than previously guided” driven by “underperformance in our US results.” Further, TWE noted that the “Americas reported a 17% decline in EBITS to $98.3m and an EBITS margin of 16.1%” due to a “loss of execution momentum” and “the persistence of challenging conditions in the US wine market.”
On this news, the Company’s American depositary receipt (“ADR”) price fell $1.33 per ADR, or 13%, to close at $8.83 per ADR on January 29, 2020.
Whistleblower Notice: Persons with non-public information regarding TWE should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email firstname.lastname@example.org.
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