Updated: August 19, 2021
Status: Pending Court Approval
Labaton Sucharow is court-appointed co-lead counsel in a securities class action lawsuit against JELD-WEN Holding, Inc. (“JELD-WEN” or the “Company”) and certain of the Company’s executives related to allegedly false and misleading statements and omissions concerning JELD-WEN’s allegedly anticompetitive conduct and financial results in the doorskins and interior molded door markets and the merit of a lawsuit filed against JELD-WEN by an interior door manufacturer.
The case is pending in the United States District Court for the Eastern District of Virginia before the Honorable John A. Gibney, Jr.
On June 22, 2020, Class Representatives filed and served their Consolidated Class Action Complaint (the “Complaint”) asserting claims against the Jeld-Wen Defendants under Section 10(b) of the Exchange Act and against the Individual Defendants and the Onex Defendants under Section 20(a) of the Exchange Act. The Complaint alleges that the price of JELD-WEN publicly traded common stock was artificially inflated as a result of Defendants’ allegedly false and misleading statements (noted above) and declined when the truth was allegedly revealed.
On July 29, 2020, Defendants filed and served their motions to dismiss the Complaint. On August 28, 2020, Class Representatives filed and served their omnibus memorandum of law in opposition to the motions to dismiss and, on September 11, 2020, Defendants filed and served their reply papers. Oral argument on Defendants’ motions to dismiss was held on September 25, 2020, and on October 26, 2020, the Court entered its Opinion and Order denying Defendants’ motions in full. Discovery in the Action commenced promptly after the Court issued the order denying Defendants’ motions to dismiss and continued until March 29, 2021.
Before reaching the agreement in principle to settle the Action, the Parties conducted extensive class, fact, and expert discovery. Plaintiffs, Defendants, and third parties collectively produced over three million pages of documents, and the Parties took 31 party, non-party, and expert depositions.
During the pendency of discovery, on January 18, 2021, Plaintiffs filed their motion to certify the Action. On February 2, 2021, Defendants filed their opposition to the motion to certify the Action as a class action, and on February 8, 2021, Plaintiffs filed their reply. A hearing was held on March 4, 2021, and on March 29, 2021, the Court granted Plaintiffs’ motion, certifying the Class and appointing Plaintiffs as “Class Representatives” and Co-Lead Counsel as “Class Counsel.”
The Parties reached an agreement to settle the Action in April 2021 and executed a Stipulation and Agreement of Settlement on June 4, 2021. The Court granted preliminary approval on July 28, 2021.
The Action is In re JELD-WEN Holding, Inc. Securities Litigation, Civil Action No. 3:20-cv-00112-JAG (E.D. Va). Labaton Sucharow represents Class Representative Public Employees’ Retirement System of Mississippi.
Submit Claim Form
If you purchased the publicly traded common stock of JELD-WEN during the period from January 26, 2017, through October 15, 2018, inclusive (the “Class Period”), you may be entitled to a payment from a class action settlement. To be eligible for a payment, you must submit a Claim Form to the Claims Administrator by November 15, 2021.
The Court will hold a Settlement Hearing on November 22, 2021, at 1:30 p.m., either remotely or in person, in Courtroom 600 at the United States District Court for the Eastern District of Virginia, Richmond Division, Spottswood W. Robinson III and Robert R. Merhige, Jr. Federal Courthouse, 701 East Broad Street, Richmond, VA 23219.
If you have questions about the Settlement, please contact Labaton Sucharow at email@example.com or 1-888-219-6877, or contact the Claims Administrator, at (855) 867-0659.
Additional information about the Settlement can also be found at www.JELD-WENSecuritiesSettlement.com.