JELD-WEN & Masonite Enter Into Settlement Agreements

On August 31, 2020, JELD-WEN, Inc. (the “Company”), a subsidiary of JELD-WEN Holding, Inc., and its co-defendant, Masonite Corporation (“Masonite”), entered into a settlement agreement with Grubb Lumber Company and Philadelphia Reserve Supply Company, on behalf of themselves and the class of direct purchasers of interior molded doors, in In re Interior Molded Doors Antitrust Litigation (the “Direct Purchaser Action”), a consolidated antitrust class action pending in the United States District Court for the Eastern District of Virginia (the “Court”).

In the Direct Purchaser Action, the Company and Masonite agreed to make a payment of $28 million each to the named plaintiffs and the settlement class of direct purchasers in exchange for a full release of claims through the date of preliminary Court approval.

In addition, on September 4, 2020, the Company and Masonite entered into a separate settlement agreement with the class of indirect purchaser plaintiffs in In re Interior Molded Doors Indirect Purchaser Antitrust Litigation (the “Indirect Purchaser Action”), a separate consolidated antitrust class action pending in the Court.

In the Indirect Purchaser Action, the Company and Masonite agreed to make a payment of $9.75 million each to the named plaintiffs and the settlement class of indirect purchasers in exchange for a full release of claims through the date of the settlement agreement.

In entering into the settlement agreements, the Company continues to believe that the claims lack merit and has denied any liability or wrongdoing for the claims made against the Company.

The settlement agreements remain subject to preliminary and final Court approval and other conditions.

Source: JELD-WEN Holding, Inc.