Shareholder Alert: Robbins LLP Informs Investors of Atkore Inc. Class Action

SAN DIEGO, Feb. 24, 2025 /PRNewswire/ -- Robbins LLP informs stockholders that a class action was filed on behalf of all persons or entities that purchased Atkore Inc. (NYSE:ATKR) common stock between February 1, 2024 and February 3, 2025. Atkore purports to be a leading manufacturer of electrical, safety and infrastructure products.

For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.

The Allegations: Robbins LLP is Investigating Allegations that Atkore Inc. (ATKR) Misled Investors Regarding its Anticompetitive Conduct

According to the complaint, during the class period, defendants failed to disclose to investors that:

(1) Atkore engaged in an anticompetitive price-fixing scheme that artificially inflated the price of PVC Pipes; (2) Atkore reaped significant, unsustainable financial benefits from its anticompetitive conduct; (3) as Atkore's price-fixing scheme was exposed, the Company 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; as such, (4) Atkore's business and operations were negatively impacted.

The complaint 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—below analysts' estimates of $680.7 million. Additionally, Atkore significantly reduced its adjusted earnings per share ("EPS") and adjusted earnings before interest, taxes, depreciation, and amortization ("EBITDA") guidance for the rest of fiscal year 2025, which also missed analysts' estimates.

On this news, the price of Atkore common stock fell $15.59 per share, or nearly 20%, from a closing price of $79.72 per share on February 3, 2025, to a closing price of $64.13 per share on February 4, 2025.

What Now: You may be eligible to participate in the class action against Atkore Inc. Shareholders who want to serve as lead plaintiff for the class must file their papers with the court by April 23, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses. 

About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. 

To be notified if a class action against Atkore Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.

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SOURCE Robbins LLP