BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces 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 federal securities laws.
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.
If you purchased TWE securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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