NEW YORK, June 26, 2020 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces it is continuing its investigation of potential securities claims on behalf of shareholders of Treasury Wine Estates Limited ( TSRYY and TSRYF) resulting from allegations that TWE may have issued materially misleading business information to the investing public.
On January 28, 2020, TWE 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, the Company noted that the “Americas reported a 17% decline in EBITS to $98.3m and an EBITS margin of 16.1% (down 3.6ppts). A loss of execution momentum, contributed to by unforeseen changes in regional management, was exacerbated by the persistence of challenging conditions in the US wine market which accelerated in Q2 post vintage.”
On this news, TWE’s American depositary receipt (“ADR”) price fell $1.33 per ADR, or 13%, to close at $8.83 per ADR on January 29, 2020.
Rosen Law Firm is preparing a securities lawsuit on behalf of TWE shareholders. If you purchased securities of TWE please visit the firm’s website at http://www.rosenlegal.com/cases-register-1852.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com
