Penfolds owner Treasury Wine Estates is calling on the securities regulator to investigate the timing and substance of a research report by a Hong Kong firm that questioned the wine group's accounting practices.
The wine producer is the latest company to pan a negative research report – describing GMT Research's analysis as "false and misleading" – after a fall in Treasury Wine share price in early trade.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years. Email Jemima at jemima.whyte@afr.com
