Shuman, Glenn & Stecker Investigates JELD-WEN Holding, Inc.
Shuman, Glenn & Stecker is investigating potential claims against JELD-WEN Holding, Inc. due to ongoing antitrust litigation and a securities class action. Allegations include participation in a collusive price-fixing scheme with a competitor and misrepresentations about market competition. A jury found JELD-WEN liable for antitrust violations in 2018, resulting in a significant financial charge of $76.5 million and a 19% drop in stock price. The securities class action has progressed towards trial following a judge's denial of a motion to dismiss.
- None.
- Liable for federal antitrust violations, resulting in a $76.5 million charge.
- 19% stock price drop following antitrust judgment disclosure.
- Ongoing securities class action alleging false public statements about product competition.
DENVER--(BUSINESS WIRE)--Shuman, Glenn & Stecker announces that it is investigating potential claims against certain officers and directors of JELD-WEN Holding, Inc. (“JELD-WEN” or the “Company”) (NYSE: JELD). JELD-WEN manufactures doors and windows.
The Firm’s investigation relates to allegations raised in antitrust litigation against JELD-WEN, as well as a securities class action against JELD-WEN and certain of its senior officers, in the U.S. District Court for the Eastern District of Virginia. These lawsuits arise from allegations that JELD-WEN participated in a collusive price-fixing scheme with one of its major competitors.
Following a trial in the antitrust litigation, on February 15, 2018 a jury found JELD-WEN liable for violating federal antitrust laws. Next, on October 5, 2018, the federal judge presiding over the antitrust litigation issued detailed factual findings about JELD-WEN’s anticompetitive behavior and ordered JELD-WEN to divest a manufacturing facility. Then, on October 15, 2018, after previously downplaying its exposure in the antitrust litigation, JELD-WEN disclosed that it would take a
Meanwhile, the securities class action lawsuit alleges between January 26, 2017 and October 15, 2018, JELD-WEN and certain of its senior officers falsely stated publicly that JELD-WEN’s products compete against those of other manufacturers based on price, and falsely described the market in which JELD-WEN sells its products as “highly competitive.” The lawsuit also claims JELD-WEN falsely attributed its strong margins and anticipated margin growth to legitimate business factors such as “strategic pricing decisions” and an increased emphasis on “pricing optimization.” On October 26, 2020, the federal judge presiding over the securities class action denied the defendants’ motion to dismiss the claims, paving the way for the case to proceed towards trial.
If you currently own JELD-WEN common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Brett Stecker toll free at (866) 569-4531 or email Mr. Stecker at brett@shumanlawfirm.com.
Shuman, Glenn & Stecker represents investors throughout the nation, concentrating its practice in stockholder litigation.
