Australia's biggest wine company Treasury Wine Estates will finally put a cork in a disastrous American misstep that saw 18 million bottles of wine poured down the drain.

On Monday, Treasury settled an investor class action agreeing to pay $49 million on the same day as the trial was listed to start.

A class action against Treasury Wine has resulted in a settlement. Credit:Peter Braig

The action, run by Maurice Blackburn and litigation funder IMF Bentham, commenced three years ago in the name of shareholder Brian Jones.

The company, which recently reported a 55 per cent jump in net profit after tax to $269.1 million for fiscal 2017, told the market that the settlement came "without any admission of liability and is also subject to court approval".