RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased JELD-WEN ("JELD-WEN" or the "Company") (NYSE: JELD) securities during the period from January 26, 2017 through October 15, 2018, inclusive (the “Class Period”).
JELD-WEN shareholders may, no later than April 20, 2020, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of JELD-WEN and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) 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"; and (2) JELD-WEN's strong margins and anticipated margin growth were attributed 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"; (3) 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; and (4) consequently, JELD-WEN common stock traded at artificially inflated prices throughout the Class Period.
If you are a member of the class, you may, no later than April 20, 2020, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.