Lawsuit filed for Investors in shares of JELD-WEN Holding, Inc. (NYSE: JELD)

An investor, who purchased shares of JELD-WEN Holding, Inc. (NYSE: JELD), filed a lawsuit over alleged violations of Federal Securities Laws by JELD-WEN Holding, Inc..

Investors who purchased shares of JELD-WEN Holding, Inc. (NYSE: JELD) have certain options and for certain investors are short and strict deadlines running. Deadline: April 20, 2020. NYSE: JELD investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Charlotte, NC based JELD-WEN Holding, Inc. manufactures and sells doors and windows primarily in North America, Europe, and Australasia. Among the Company's "highest volume products" are interior molded doors, which are produced by joining two door skins between a wood frame filled with a hollow or solid core. Door skins are the principal component of interior molded doors, accounting for up to 70% of the cost to manufacture a molded door.

The claims asserted in this case arise from Jeld-Wen's role in a scheme to collude with one of its major competitors, Masonite Corporation ("Masonite"), to fix prices of interior molded doors and door skins.

On February 15, 2018, a jury in a lawsuit brought by one of Jeld-Wen's customers, Steves and Sons, Inc., found that Jeld-Wen violated federal antitrust laws by conspiring with Masonite to manipulate the price of door skins and awarded Steves over $58 million in damages, which, when trebled, totaled more than $175 million. However, Defendants continued to conceal the true extent of Jeld-Wen's misconduct and the financial impact it had on the Company's business, including by continuing to assure investors that it participated in a highly competitive market. Then, on August 7, 2018, J.P. Morgan slashed estimates for Jeld-Wen's earnings in 2018 and 2019 and lowered its price target for Jeld-Wen's stock based, in part, on liability from the "ongoing Steves and Sons litigation." Months later, on October 5, 2018, the court in the Steves litigation ruled that, as part of the resolution of that case, Jeld-Wen would be required to divest one of its door skin manufacturing facilities. Then, on October 15, 2018, Jeld-Wen announced that it would take a $76.5 million charge related to the Steves litigation. That same day, the Company also announced the sudden resignation of its CFO, defendant L. Brooks Mallard. As a result of these disclosures, the price of Jeld-Wen's common stock declined precipitously.

Shares of JELD-WEN Holding, Inc. (NYSE: JELD) declined from over $40 per share in early 2018 to as low as $13.41 per share in late 2018.

The plaintiff claims that between January 26, 2017 and October 15, 2018, Jeld-Wen stated that its products, including doors, compete against those of other manufacturers based on price, and described the market in which the Company sells its doors as "highly competitive", that the Company also repeatedly attributed its strong margins and anticipated margin growth to legitimate business factors, such as "strategic pricing decisions" and an increased emphasis on "pricing optimization", that these and similar statements made by Defendants between January 26, 2017 and October 15, 2018were false and misleading because Defendants knew that Jeld-Wen was engaged in a price-fixing conspiracy, and that as a result of Defendants' misrepresentations, shares of Jeld-Wen's common stock traded at artificially inflated prices between January 26, 2017 and October 15, 2018.

Those who purchased shares of JELD-WEN Holding, Inc. (NYSE: JELD) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.