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Jeld-Wen, Onex Will Pay $40 Million to End Suit Over Door Prices

June 7, 2021, 4:09 PM

Jeld-Wen Inc. and its private equity backers at Onex Corp. will pay $40 million to resolve claims that the door manufacturer kept investors in the dark about its dependence on a major price-fixing scheme, according to a federal court filing in Virginia.

The shareholders leading the securities fraud case sought preliminary approval for the pact from Judge John A. Gibney, one day after he signed off on a $61 million deal partly resolving antitrust claims against Jeld-Wen and Masonite Corp., another top door maker.

Jeld-Wen and Masonite are splitting that settlement with “direct” door buyers like construction contractors and ...