LOS ANGELES, Sept. 23, 2026 (GLOBE NEWSWIRE) — The United States District Court for the District of Nevada granted final approval of a $7,500,000 cash settlement resolving securities fraud claims on behalf of investors who purchased Vintage Wine Estates, Inc. (previously NASDAQ: VWE) common stock. The Honorable Gloria M. Navarro entered judgment approving the settlement on September 22, 2026, following a settlement fairness hearing held that day.
Glancy Prongay Wolke & Rotter LLP served as Court-appointed Lead Counsel for the Settlement Class, with Muehlbauer Law Office, Ltd. serving as Liaison Counsel, and Block & Leviton LLP serving as Additional Counsel for plaintiffs. The action was brought on behalf of Court-appointed lead plaintiffs Marilyn Ezzes and Jeffrey A. Davies and additional plaintiff Michael F. Salbenblatt.
The Settlement Class
The Court certified, for settlement purposes, a Settlement Class consisting of all persons and entities that purchased the publicly traded common stock of Vintage Wine Estates between October 13, 2021 and February 8, 2023, both dates inclusive, and were damaged thereby. Certain persons and entities are excluded from the Settlement Class by definition, including Vintage Wine Estates’ officers and directors during the class period and their immediate families.
The Allegations
The litigation concerned allegedly false and misleading statements by Vintage Wine Estates and three of its executives during the class period: Chief Executive Officer Patrick Roney and Chief Financial Officers Katherine DeVillers and Kristina Johnston. The statements concerned the Company’s inventory levels and overhead burden.
On September 13, 2022, Vintage Wine Estates reported fourth-quarter fiscal 2022 results that included $19.1 million in non-cash inventory adjustments and incremental overhead burden attributable to prior periods. On February 8, 2023, the Company disclosed that its Audit Committee had determined that its financial statements for the quarter ended September 30, 2022 should no longer be relied upon and would be restated due to an accounting error. In July 2024, Vintage Wine Estates filed for Chapter 11 bankruptcy protection and announced that it would voluntarily delist its common stock from Nasdaq.
The settlement was entered into with defendants Patrick Roney, Katherine DeVillers, and Kristina Johnston. Defendants deny that they violated the federal securities laws. The settlement is not an admission of liability by any defendant, and the Court’s judgment makes no finding of wrongdoing.
Claims Deadline
Settlement Class Members who wish to receive a payment from the Net Settlement Fund must submit a valid claim form, online or postmarked by October 9, 2026. Claim forms and other relevant information is available at www.VintageWineSecuritiesSettlement.com.
About Glancy Prongay Wolke & Rotter LLP
Glancy Prongay Wolke & Rotter LLP is a national law firm representing investors and consumers in complex litigation, with a practice concentrated in securities class actions and shareholder litigation. The firm is headquartered in Los Angeles.
Contact
Casey Sadler, Esq.
Glancy Prongay Wolke & Rotter LLP
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
(310) 201-9150
[email protected]
The case is Ezzes v. Vintage Wine Estates, Inc. et al., Case No. 2:22-cv-01915-GMN-DJA.
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