LOS ANGELES–(BUSINESS WIRE)–$JELD #classaction—The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired JELD-WEN Holding, Inc. (“Jeld-Wen” or the “Company”) (NYSE: JELD) securities between January 26, 2017 and October 15, 2018, inclusive (the “Class Period”). Jeld-Wen investors have until April 20, 2020 to file a lead plaintiff motion.
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On October 15, 2018, after the market closed, Jeld-Wen reported a $76.5 million charge for third quarter 2018 related to ongoing litigation concerning Jeld-Wen’s anticompetitive behavior. The Company also announced the resignation of its Chief Financial Officer, Brooks Mallard.
On this news, the Company’s stock price fell $4.03, or 19%, to close at $17.28 per share on October 16, 2018, thereby injuring investors.
The complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose: (1) that Jeld-Wen was engaged in anticompetitive conduct through a price-fixing conspiracy with another door manufacturer to artificially increase or maintain prices of interior molded doors; and (2) that, as a result of the foregoing, Defendants’ statements about the Company’s business, operations, and prospects lacked a reasonable basis.
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If you purchased Jeld-Wen securities during the Class Period, you may move the Court no later than April 20, 2020 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased Jeld-Wen securities, have information or 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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