Jeld-Wen, Onex Lose Bid to Ax Securities Suit Over Price Fixing

Leading door manufacturer Jeld-Wen Inc., its top executives, and its private equity backers at Onex Corp. must face claims that they kept investors in the dark about the company’s role in a price-fixing scheme, a federal judge in Virginia ruled, citing allegations that they failed “to tell the whole truth.”

When “Jeld-Wen publicly touted its legal pricing strategies to explain its success,” it took on “an obligation to disclose the anti-competitive behavior that artificially inflated prices,” Judge John A. Gibney Jr. wrote. “It makes no difference that the defendants implemented legal pricing strategies alongside their illegal behavior.”

The securities lawsuit, ...