Australia's biggest wine company settles shareholder class action for $53 millionDAVID GRAY/REUTERS Australia's Treasury Wine Estates is finally putting shareholder class action to bed. Australia's biggest wine company Treasury Wine Estates will finally put a cork in a disastrous American misstep that saw 18 million bottles of wine poured down the drain. On Monday, Treasury settled an investor class action, agreeing to pay A$49 million (NZ$53 million) on the same day as the trial was listed to start. It is also Australia's biggest wine company and a major wine exporter. The global litigation funder IMF Bentham, which is headquartered in Australia, funded the class action against Treasury Wine Estates.

Source: Stuff August 28, 2017 09:48 UTC