Vintage Wine Estates Securities Class Action Settlement

William C. Gendron

Editor in Chief

Published

June 15, 2026 11:32 AM

Updated

June 15, 2026

Who can file a claim?

The settlement includes all persons and entities that purchased publicly traded common stock of Vintage Wine Estates Inc. (Nasdaq: VWE) between Oct. 13, 2021, and Feb. 8, 2023, inclusive, and incurred damages as a result.

Additional details

Both individuals and entities can be class members.
The actual beneficial owner or a legal representative must submit the claim.
All joint owners must sign the claim form.
Agents, executors, administrators, guardians and trustees may submit claims on behalf of others and must provide proof of their authority.
Each separate legal entity must submit a separate claim form.

How much can class members get?

The total settlement fund is $7,500,000. The amount each class member receives depends on several factors:

The number of valid claims submitted
The number of shares purchased during the class period
The timing of each purchase and sale
The total recognized losses of all claimants

The settlement administrator will distribute payments on a pro rata basis according to the court-approved plan of allocation:

The estimated average recovery is approximately $0.79 per eligible share before deductions for court-approved fees, expenses and costs.

After deducting the estimated $0.29 per share for attorneys' fees, expenses and costs, the estimated average recovery is approximately $0.50 per eligible share.

Actual payments may be higher or lower depending on individual claims and the total number of valid claims.
To have a compensable loss, class members must have purchased shares during the class period and held them through at least one corrective disclosure date of Sept. 14, 2022, or Feb. 9, 2023.
The settlement administrator will calculate each class member's recognized loss for each transaction using the court-approved plan of allocation and the artificial inflation values in Table 1 (Page 11 of the class notice).

For shares sold before Sept. 14, 2022, the recognized loss is $0.
For shares sold from Sept. 14, 2022, through Feb. 8, 2023, the recognized loss is the lesser of artificial inflation at purchase minus artificial inflation at sale or the out-of-pocket loss (the purchase price minus the sale price).
For shares sold from Feb. 9, 2023, through May 9, 2023, the recognized loss is the lesser of artificial inflation at purchase, the purchase price minus the sale price or the purchase price minus the 90-day lookback value on the sale date (Table 2 on Page 12 of the class notice).
For shares held as of the close of trading on May 9, 2023, the recognized loss is the lesser of artificial inflation at purchase or the purchase price minus $1.34, the average closing price during the 90-day lookback period.

The settlement administrator will set any recognized loss that calculates to a negative number to $0.
If total recognized losses exceed the net settlement fund, the settlement administrator will reduce payments on a pro rata basis.
Class members whose payment would be less than $10 will not receive a payout but will still be bound by the settlement.

How to claim a Vintage Wine securities class action settlement payment

Class members may file a claim online or download, print and complete the PDF claim form and mail it to the settlement administrator. The deadline to file a claim is Oct. 9, 2026.

Settlement administrator's mailing address: Vintage Wine Securities Litigation, c/o Strategic Claims Services, 600 N. Jackson St., Suite 205, P.O. Box 230, Media, PA 19063

Proof or documentation required to submit a claim

All class members must provide the last four digits of their Social Security number or taxpayer identification number. They must also provide holdings and transaction information, including:

Number of shares held at the opening of trading on Oct. 13, 2021
Trade dates for all purchases, acquisitions and sales from Oct. 13, 2021, through the close of trading on May 9, 2023
Number of shares purchased, acquired or sold, the price per share and the total transaction price
Number of shares held at the close of trading on May 9, 2023

Class members must also provide documentation to support their transactions in Vintage Wine common stock. Acceptable proof includes:

Broker confirmation slips
Broker account statements
Authorized statements from a broker containing the transactional information found in a confirmation slip

Payout options

Physical check

$7.5 million settlement fund

The $7,500,000 settlement fund includes:

Settlement administration costs: To be determined
Attorneys' fees: Up to $2,500,000
Attorneys' expenses: Up to $265,000
Service awards to class representatives: Up to $15,000 total
Payments to eligible class members: Remainder of the fund

Important dates

Opt-out deadline: Sept. 1, 2026
Fairness hearing: Sept. 22, 2026
Deadline to file a claim: Oct. 9, 2026

When is the Vintage Wine securities class action settlement payout date?

The settlement administrator will distribute payments to eligible class members after it processes all claims and the court resolves any appeals and grants final approval of the settlement.

Why did this class action settlement happen?

The class action lawsuit alleged Vintage Wine Estates Inc. and certain executives made materially false and misleading statements and omitted material facts about the company's overstated inventory and understated cost of goods. The plaintiffs claimed these statements artificially inflated Vintage Wine's stock price and caused investor losses when the company issued corrective information to the market.

The defendants denied all allegations of wrongdoing but agreed to settle to avoid the uncertainty, burden and expense of further litigation.