Masonite(US:DOOR) Prnewswire·2026-02-11 01:38Core Viewpoint - A class action has been filed against Masonite International Corporation (NYSE: DOOR) for allegedly misleading investors regarding its acquisition by Owens Corning's Doors, particularly concerning undisclosed offers and share repurchases [1] Group 1: Allegations and Misconduct - The class action arises from claims that Masonite made material omissions and misrepresentations about Owens Corning's offers to purchase all outstanding common stock at significant premiums [1] - Masonite repurchased nearly 270,000 shares for approximately $25 million between June 2023 and December 2023, while failing to disclose Owens Corning's offers for about eight months [1] - During the class period, Masonite made misleading statements about its share buyback activities, claiming they were meant to distribute capital back to investors without disclosing the higher offers from Owens Corning [1] Group 2: Stock Price Impact - Following the announcement of the arrangement agreement on February 9, 2024, Masonite's stock price surged to $130.51, reflecting a 35.1% increase from the previous trading day's close [1] Group 3: Legal Proceedings - Shareholders wishing to serve as lead plaintiffs in the class action must submit their papers by April 7, 2026, and participation is not required to be eligible for recovery [1] - Robbins LLP, the firm leading the class action, operates on a contingency fee basis, meaning shareholders incur no fees or expenses [1]