Shareholder Alert: Robbins LLP Reminds Investors JELD-WEN Holding, Inc. (JELD) Sued for Misleading Shareholders
March 19 2020 - 02:39PM
Business Wire
Shareholder rights law firm Robbins LLP reminds investors that a
purchaser of JELD-WEN Holding, Inc. (NYSE: JELD) filed a class
action complaint against the Company for alleged violations of the
Securities Exchange Act of 1934 between January 26, 2017 and
October 15, 2018. Jeld-Wen manufactures and sells doors and
windows.
If you suffered a loss as a result of Jeld-Wen's misconduct,
click here.
JELD-WEN Holding, Inc. (JELD) Accused of Concealing Collusive
Pricing Strategy
According to the complaint, Jeld-Wen held multiple stock
offerings in which the offering materials touted the Company's
financial results and outlook. However, the statements proved to be
false. The complaint alleges that beginning in 2012, Jeld-Wen
engaged in price fixing with Masonite International Corporation,
giving the two companies control of 85% of the market for interior
molded doors. In June 2014, Jeld-Wen touted that it had implemented
a new pricing strategy that emphasized "pricing optimization" to
increase product profitability, which included raising its prices
in its supply agreements with independent door manufacturers when
Masonite suddenly stopped selling molded doors. Consequently, an
independent door manufacturer filed a lawsuit against Jeld-Wen. On
February 15, 2018, a jury found Jeld-Wen guilty of violations of
U.S. antitrust laws and awarded the plaintiff treble damages
totaling approximately $174 million. The judge also ordered the
divestiture of a door skin facility Jeld-Wen had acquired as part
of a prior acquisition. As a result, on October 15, 2018, Jeld-Wen
revealed that the Company expected its third quarter 2018 financial
results to include a $76.5 million charge related to the pending
litigation. On this news, Jeld-Wen's stock price declined 19% to
close at $17.28 per share and has yet to recover to its class
period high.
JELD-WEN Holding, Inc. (JELD) Shareholders Have Legal
Options
Contact us to learn more: Leo Kandinov (800) 350-6003
lkandinov@robbinsllp.com Shareholder Information Form
Robbins LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action
lawsuits, and has helped its clients realize more than $1 billion
of value for themselves and the companies in which they have
invested. Click Here to receive free alerts from Stock Watch when
companies engage in wrongdoing.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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Leo Kandinov Robbins LLP 5040 Shoreham Place San Diego, CA 92122
lkandinov@robbinsllp.com (619) 525-3990 or Toll Free (800) 350-6003
www.robbinsllp.com
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