NEW YORK, Jan. 20, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating certain officers and directors of Jeld-Wen Holding, Inc. (NYSE: JELD) and Zoom Video Communications, Inc. (NASDAQ: ZM) on behalf of long-term stockholders. More information about each potential case can be found at the link provided.
Jeld-Wen Holding, Inc. (NYSE: JELD)
Bragar Eagel & Squire is investigating certain officers and directors of Jeld Wen Holding, Inc. following news that the Shareholder Class Action Against Jeld-Wen has survived the motions to dismiss in the pending securities class action and may face damages.
According to the securities class action complaint, throughout the Class Period defendants engaged in a scheme to defraud and made materially false and misleading statements, as well as failed to disclose material adverse facts, regarding the Company’s business, operations, growth prospects, and competitive positioning. Specifically, defendants stated that Jeld-Wen products, including doors, compete against other manufacturers on price, and described the market in which the Company sells its doors as “highly competitive.” Defendants also attributed Jeld-Wen’s strong margins and anticipated margin growth to legitimate business factors, such as “making strategic pricing decisions based on an analysis of customer and product level profitability” and increasing its emphasis on “pricing optimization.” These and similar statements made by defendants during the Class Period were false and misleading because defendants knew that Jeld-Wen was engaged in a price-fixing conspiracy with another door manufacturer to artificially increase or maintain prices of interior molded doors. As a result of defendants’ misrepresentations, shares of Jeld-Wen’s common stock traded at artificially inflated prices throughout the Class Period. On October 26, 2020, U.S. District Judge John A. Gibney, Jr. denied defendants’ motions to dismiss plaintiffs’ claims, finding that plaintiffs had plausibly alleged securities fraud claims.
For more information on our investigation into Jeld-Wen go to: https://bespc.com/cases/JELD
Zoom Video Communications, Inc. (NASDAQ: ZM)
Bragar Eagel & Squire is investigating certain officers and directors of Zoom Video Communications, Inc. following a class action complaint that was filed against Zoom on April 7, 2020.
The Complaint alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) Zoom had inadequate data privacy and security measures; (ii) contrary to Zoom’s assertions, the Company’s video communications service was not end-to-end encrypted; (iii) as a result of all the foregoing, users of Zoom’s communications services were at an increased risk of having their personal information accessed by unauthorized parties, including Facebook; (iv) usage of the Company’s video communications services was foreseeably likely to decline when the foregoing facts came to light; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
To learn more about our investigation into Zoom go to: https://bespc.com/cases/ZM
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com