Lewis F. Powell III Named American Lawyer’s Co-Litigator of the Week

Richmond partner Lewis F. Powell III and co-counsel Glenn D. Pomerantz, a partner at Munger, Tolles & Olson, were named The American Lawyer’s Litigators of the Week for their role in an antitrust lawsuit that led to an award of sizable damages and a significant divestiture order as a remedy to restore competition.

The recent victory was on behalf of family-owned door maker Steves and Sons over JELD-WEN, Inc. On October 5, Senior U.S. District Judge Robert E. Payne ordered the divestiture by JELD-WEN of the principal asset it acquired in its 2012 merger with its competitor CraftMaster—a manufacturing plant in Towanda, Pennsylvania. In a 149-page memorandum opinion, Judge Payne noted that the case marks the first private merger challenge to reach a jury verdict.

Judge Payne’s divestiture decision followed a determination in February by a federal jury in Richmond, Virginia, that JELD-WEN’s acquisition of CraftMaster violated Section 7 of the Clayton Antitrust Act because the merger substantially lessened competition. The jury awarded Steves $12 million in past antitrust damages and $46.6 million in future lost profits, all of which will be trebled automatically. Steves also is entitled to recover its attorneys’ fees.

In a Q&A in The American Lawyer, Powell and Pomerantz discuss the details of the case, strategies behind their big win, and its significance in antitrust law.

Read Litigators of the Week: Opening a New Door in Private Antitrust Enforcement, The American Lawyer - Litigation Daily, October 12, 2018.