Jeld-Wen and Masonite to Pay $61.6 in Class Action SettlementJune 7th, 2021 by Drew Vass
Door manufacturers Jeld-Wen Inc. and Masonite Corp. agreed to get their pens out this week, each stroking a check for $30.8 million ($61.6 million total), ending a class action lawsuit against the two companies. The final approval order and judgement was signed last week by U.S. District Judge John A. Gibney, completing a settlement agreement that was originally filed August 31, 2020. The suit alleged that the two companies conspired to fix prices, while holding approximately 85% of the market for certain interior doors.
Plaintiffs sought relief under the Sherman Act, as well as under various state antitrust and consumer protection laws, contending that Jeld-Wen’s and Masonite’s anti-competitive conduct drove up the prices they paid for interior molded door skins. The plaintiff class includes persons or entities that purchased interior molded doorskins in the U.S., from October 19, 2014, through December 31, 2018, directly from either of the two providers. Individual notices were sent to potential class members via mail and email (where available), followed by publication of a summary notice.
The two companies entered into a settlement agreement August 31, 2020, to fully resolve the settlement class of claims. In a hearing held October 8, 2020, the court provided preliminary approval, followed by a Fairness Hearing held March 16, 2021. Plaintiffs and defendants subsequently entered into a revised settlement agreement January 29, 2021, followed by a hearing to determine the fairness of a revised settlement agreement June 2, 2021, after which the court found the agreement to be fair, reasonable and adequate to class members. Transcripts from the private hearing have not yet been made available.
The two companies agreed to pay a total of $61.6 million, divided equally between them, to be deposited into escrow no later than 10 business days after the settlement agreement was signed.