Masonite International faces class-action lawsuit
Masonite is facing a securities class action lawsuit for allegedly failing to disclose, between June 2023 and February 2024, that it received acquisition offers from Owens Corning. While hiding these premium offers, the company repurchased nearly 270,000 shares for roughly $25 million at artificially lower prices, misleading investors, and allegedly earning millions on stock prices that later went up when it was revealed that Owens Corning was making a large offer on the company.