September 11, 2018
Richmond partner Lewis F. Powell III was named among the The National Law Journal’s 2018 Winning Litigators. The annual report profiles a select group of lawyers who scored big victories for their clients in high-stakes cases.
Powell and co-counsel Glenn Pomerantz, a partner at Munger, Tolles & Olson, were recognized for their recent victory for family-owned door maker Steves and Sons over JELD-WEN, Inc. In an important antitrust lawsuit, a federal jury in Richmond, Virginia, found that JELD-WEN’s 2012 acquisition of its competitor CraftMaster violated Section 7 of the Clayton Antitrust Act because the merger substantially lessened competition. The jury awarded Steves $12 million in past damages and $46.5 million in future lost profits. If the verdict is upheld on appeal, the damages will be trebled automatically to $175.5 million, and Steves will be entitled to recover its substantial attorneys’ fees, litigation expenses, and interest.
Still pending before presiding judge Robert E. Payne is Steves’ request that the court order the divestiture by JELD-WEN of the principal asset it acquired in the merger—a manufacturing plant in Towanda, Pennsylvania. Steves has argued that divestiture will restore competition to the relevant market.
In a profile by NLJ, Powell and Pomerantz discuss their big win from February 2018 and offer trial tips that have been key to their success.
Read Masters of the Courtroom: Our 2018 Winning Litigators, The National Law Journal, August 27, 2018.