NEW YORK–(BUSINESS WIRE)–Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that the Shareholder Class Action Against Jeld-Wen Holdings, Inc. (NYSE: JELD) has survived the motions to dismiss in the pending securities class action and may face damages. Long-term investors are encouraged to contact the firm.
According to the securities class action complaint, throughout the Class Period defendants engaged in a scheme to defraud and made materially false and misleading statements, as well as failed to disclose material adverse facts, regarding the Company’s business, operations, growth prospects, and competitive positioning. Specifically, defendants stated that Jeld-Wen products, including doors, compete against other manufacturers on price, and described the market in which the Company sells its doors as “highly competitive.” Defendants also attributed Jeld-Wen’s strong margins and anticipated margin growth to legitimate business factors, such as “making strategic pricing decisions based on an analysis of customer and product level profitability” and increasing its emphasis on “pricing optimization.” These and similar statements made by defendants during the Class Period were false and misleading because defendants knew that Jeld-Wen was engaged in a price-fixing conspiracy with another door manufacturer to artificially increase or maintain prices of interior molded doors. As a result of defendants’ misrepresentations, shares of Jeld-Wen’s common stock traded at artificially inflated prices throughout the Class Period. On October 26, 2020, U.S. District Judge John A. Gibney, Jr. denied defendants’ motions to dismiss plaintiffs’ claims, finding that plaintiffs had plausibly alleged securities fraud claims.
If you are a long-term stockholder of Jeld-Wen, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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