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Doormaker Settles Investors' Stock-Drop Claims For $40M

By Christopher Cole (June 7, 2021, 5:07 PM EDT) -- A doormaker swamped with antitrust litigation has reached a nearly $40 million settlement with investors who claim the company manipulated its stock price while incurring millions in liability from a rival's lawsuit.

The class of investors in Jeld-Wen Inc. sought preliminary approval of the deal on Friday in Virginia federal court. If it gets the green light, the deal will resolve claims that Jeld-Wen stock sold at an inflated price, which fell precipitously after the doormaker revealed $76.5 million in liability to competitor Steves and Sons Inc.

Jeld-Wen continues to deny any wrongdoing, according to Friday's filing, which says the handshake...

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