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 Treasury Wine boss slams rising tide of 'crazy' lawsuits

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Treasury Wine boss slams rising tide of 'crazy' lawsuits Vide
PostSubject: Treasury Wine boss slams rising tide of 'crazy' lawsuits    Treasury Wine boss slams rising tide of 'crazy' lawsuits Icon_minitimeFri Nov 22, 2013 3:06 am
The chief executive of the world's biggest winemaker, Treasury Wine Estates, has lashed out at the rising tide of ''crazy class actions'' hurled at boardrooms, arguing they were being manufactured by self-interested litigators.

Treasury Wine boss Warwick Every-Burns told BusinessDay litigation funds and their law firm partners were usurping the role of regulatory authorities in their pursuit of boards, while companies could shy away from growth plans for fear of being slapped with a shareholder class action lawsuit.

''We will end up with companies almost being scared to do what they should be doing in the marketplace because they are continually feeling that they are going to have these crazy class actions,'' Mr Every-Burns said. ''People will start to become almost risk-averse if we are not careful.

Read more: http://www.smh.com.au/business/treasury-wine-boss-slams-rising-tide-of-crazy-lawsuits-20131121-2xynv.html#ixzz2lMMVOFwK
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