Treasury Wine Estates (ASX:TWE) agreed in principle to settle a shareholder class action against it in the Supreme Court of Victoria in Australia in 2020, according to a Monday filing with the Australian bourse.
The agreed amount is AU$65 million, with the full settlement amount to be met by available insurance proceeds subject to the settlement's finalization, the filing stated.
The wine company makes no admission of liability in the settlement, which is conditional on approval by the Supreme Court, it said in the filing.
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