JELD-WEN Holding, Inc.
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of Virginia on behalf of those who acquired JELD-WEN Holding, Inc. (“Jeld-Wen” or the “Company”) (NYSE: JELD) securities during the period from January 26, 2017 through October 15, 2018. Investors have until April 20, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that the Company failed to disclose that Jeld-Wen’s products, including doors, were not competing against those of other manufacturers based on price and that its strong margins and anticipated margin growth was not attributable to legitimate business factors, such as “strategic pricing decisions” and an increased emphasis on “pricing optimization.” Rather, Jeld-Wen was engaged in a price-fixing conspiracy with another door manufacturer to artificially increase or maintain prices of interior molded doors.
On October 15, 2018, Jeld-Wen announced that the Company expected its 2018 Q3 results to include a $76.5 million charge related to ongoing antitrust litigation in Steves and Sons, Inc. v. Jeld-Wen, Inc., No. 16 Civ. 545 (E.D. Va.). The Company also announced the resignation of its CFO, Brooks Mallard. On this news, the price of Jeld-Wen stock fell $4.03, or 18.9%, to close at $17.28 per share on October 16, 2018.
If you acquired Jeld-Wen securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at email@example.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.