Portnoy Law Firm Announces Class Action on Behalf of Masonite International Corporation Investors
LOS ANGELES, Feb. 26, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Masonite International Corporation, (“Masonite” or the "Company") (NYSE: DOOR) investors of a class action on behalf of investors that bought securities between June 5, 2023 and February 8, 2024, inclusive (the “Class Period”). Masonite investors have until April 7, 2026 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/masonite-international-corporation. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
According to the complaint, this action arises from defendants' material omissions and misrepresentations concerning Owens Corning's offers to purchase all of Masonite's outstanding common stock at significant premiums to the Company's stock price and the Company's repurchases of millions of dollars' worth of its shares without disclosing material nonpublic information about Owens Corning's offers, which, if disclosed as required, would have indicated to investors that Masonite's stock was worth significantly more.
Plaintiff alleges that Masonite made no disclosure concerning Owens Corning's offers for approximately eight months, while the Company repurchased millions of dollars of its own shares at prices far below Owens Corning's offers. In total, Masonite repurchased nearly 270,000 of its outstanding shares from unsuspecting investors for approximately $25 million between June 2023 and December 2023, despite knowing that Owens Corning was continuously proposing offers at a significant premium to Masonite's then stock price. At the same time, defendants made numerous misleading statements touting this significant repurchase activity, repeatedly updating investors about these buybacks during the class period and telling investors the buybacks were meant to "distribut[e] capital back" to investors, all with no disclosure concerning Owens Corning's credible offer(s) to acquire Masonite shares at materially higher prices.
On February 9, 2024, Masonite issued a press release announcing the execution of the arrangement agreement. Finally, eight months after receiving the offer, defendants apprised investors that Owens Corning was willing to pay a significant premium over the market price for Masonite common stock. On this news, Masonite's common stock price skyrocketed to $130.51 at market close on February 9, 2024, a 35.1% increase over the closing price on the prior trading day.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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