NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces it is investigating potential breaches of fiduciary duties by management of JELD-WEN Holding, Inc. (NYSE: JELD) resulting from allegations that management may have issued materially misleading business information to the investing public.
On February 15, 2018, a jury found the Company guilty of U.S. antitrust law violations and awarded the plaintiff treble damages totaling approximately $174 million. Then, on February 28, 2018, the Company announced the sudden resignation of its President and CEO. Then, on October 15, 2018, after previously downplaying its exposure in the antitrust litigation, the Company disclosed that it would be taking a $76.5 million charge related to an expected judgment in the case and the sudden resignation of its Chief Financial Officer.
According to the amended securities fraud complaint filed against the Company, JELD-WEN and certain senior executive officers issued a series of false and misleading statements to investors intending to mislead the investing public by falsely attributing the source of the Company’s financial success to legitimate and lawful pricing strategies. As further detailed in the complaint, “[i]n reality, however, Defendants were engaged in anticompetitive conduct in violation of federal antitrust laws which was artificially propping up the Company’s sales and was actually the true cause of JELD-WEN’s success.” Recently, the court in that case denied the Company’s motion to dismiss, allowing the case to move forward.
If you currently own shares of JELD-WEN, please visit the firm’s website at https://www.rosenlegal.com/cases-register-1980.html for more information. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
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