Atkore Inc. Class Action Lawsuit - ATKR
Case Summary
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The Atkore class action lawsuit – captioned Westchester Putnam Counties Heavy & Highway Laborers Local 60 Benefits Fund v. Atkore Inc., No. 25-cv-01851 (N.D. Ill.) – seeks to represent purchasers of Atkore Inc. (NYSE: ATKR) common stock and charges Atkore and certain of Atkore’s top current and former executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Atkore class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the Atkore class action lawsuit must be filed with the court no later than April 23, 2025.
CASE ALLEGATIONS: Atkore engages in the manufacture and sale of electrical, mechanical, safety, and infrastructure products and solutions.
The Atkore class action lawsuit alleges that defendants throughout the class period made false and/or misleading statements and/or failed to disclose that: (i) Atkore engaged in an anticompetitive price-fixing scheme that artificially inflated the price of PVC pipes; (ii) Atkore reaped significant, unsustainable financial benefits from its anticompetitive conduct; (iii) as Atkore’s price-fixing scheme was exposed, Atkore and its price-fixing co-conspirators were no longer able to artificially inflate the price of PVC pipes, resulting in a substantial decrease in the price of PVC pipes; and (iv) Atkore’s business and operations were negatively impacted.
The Atkore class action lawsuit further alleges that on February 4, 2025, Atkore announced its financial results for the first quarter of fiscal year 2025, reporting net sales of $661.6 million, down 17% year-over-year and below analysts’ estimates of $680.7 million, and provided guidance for the rest of fiscal year 2025, including adjusted EPS of $5.75 to $6.85 and adjusted EBITDA of $375 million to $425 million – representing a significant reduction from its previously issued guidance of $7.80 to $8.90 and $475 million to $525 million, respectively. On this news, the price of Atkore common stock fell nearly 20%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Atkore common stock during the class period to seek appointment as lead plaintiff in the Atkore class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Atkore class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Atkore class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Atkore class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig.