NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Treasury Wine Estates Limited (OTC: TSRYY and TSRYF) resulting from allegations that Treasury Wine Estates may have issued materially misleading business information to the investing public.
On January 28, 2020, Treasury Wine Estates 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, Treasury Wine Estates’ 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 Treasury Wine Estates shareholders. If you purchased securities of Treasury Wine Estates 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@example.com or firstname.lastname@example.org.
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