JELD-WEN Holding, Inc.
Attention investors who purchased shares of JELD-WEN Holding, Inc. between January 26, 2017 and October 15, 2018:
Rigrodsky & Long is investigating claims brought in a securities fraud class action complaint against JELD-WEN Holding, Inc. ("JELD-WEN" or the "Company") concerning whether JELD-WEN and certain of the Company's directors and/or officers made materially false and misleading statements and failed to disclose materially adverse facts during the period of January 26, 2017 and October 15, 2018, inclusive (the "Class Period"), concerning JELD-WEN's business, operations, and prospects. These misrepresentations and omissions artificially inflated the price of JELD-WEN's shares throughout the Class Period.
Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Eastern District of Virginia, Richmond Division on behalf of all persons or entities that purchased the common stock of JELD-WEN Holding, Inc. (“JELD-WEN” or the “Company”) (NYSE: JELD) between January 26, 2017 and October 15, 2018, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased shares of JELD-WEN during the Class Period, or purchased shares prior to the Class Period and still hold JELD-WEN, and wish to discuss this action or have any questions concerning this notice or your rights, please contact Seth D. Rigrodsky or Timothy J. MacFall toll free at (888) 969-4242, or by e-mail at firstname.lastname@example.org.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations, and prospects. Specifically, the Complaint alleges that, despite the Company allegedly engaging in anti-competitive practices in violation of federal antitrust laws beginning in or about 2014, the defendants: (1) falsely represented that the Company’s products, including doors, competed against other manufacturers on price; (2) falsely described the market in which the Company sells its doors as “highly competitive”; (3) falsely attributed JELD-WEN’s strong margins and anticipated margin growth to changes they had made in the Company’s business operations and strategies; and (4) concealed the Company’s anticompetitive conduct. As a result of defendants’ alleged false and misleading statements, the Company’s shares traded at artificially inflated prices during the Class Period.
According to the Complaint, on October 15, 2018, after the market closed, JELD-WEN announced that the Company expected its third quarter 2018 financial results to include a $76.5 million charge related to an ongoing antitrust litigation. The Company also announced the resignation of its Chief Financial Officer, Brooks Mallard.
On this news, shares of JELD-WEN fell over 18%, closing at $17.28 per share on October 16, 2018, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than April 20, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Rigrodsky & Long, P.A., with offices in Delaware and New York, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in securities fraud and corporate class actions nationwide.
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