#United States #San Diego #Class Action #Robbins LLP #Atkore Inc.

Robbins LLP Alerts Shareholders on Atkore Inc. Class Action

In a significant development for investors, Robbins LLP has announced the initiation of a class action lawsuit on behalf of individuals who purchased common stock of Atkore Inc. (NYSE:ATKR) during the specified period between February 1, 2024, and February 3, 2025. Atkore is well-known for being a key player in the manufacturing sector, focusing on electrical and infrastructure products. The lawsuit is the result of allegations regarding Atkore’s purported anticompetitive behavior.

Background of the Allegations

The allegations against Atkore primarily concern claims of engaging in a price-fixing scheme that has had a negative impact on the market. According to the complaint, Atkore allegedly operated under a scheme that manipulated the prices of PVC pipes, resulting in inflated costs that misled investors regarding the company's actual profitability and market position. Key points raised in the lawsuit include:

1. Anticompetitive Price-Fixing: Atkore is accused of engaging in practices that artificially inflated the price of PVC products, leading to significant financial gain that was not sustainable.
2. Lack of Disclosure: Investors were allegedly not informed about the nature of this price-fixing, which prevented them from making fully informed decisions regarding their investments.
3. Substantial Financial Impact: As price-fixing practices came to light, Atkore faced a significant decline in its stock value due to a drop in PVC prices, fundamentally altering the financial outlook of the company.

On February 4, 2025, Atkore released its financial results for Q1 of the fiscal year, revealing disappointing net sales of $661.6 million, falling short of the anticipated $680.7 million. The company's adjusted earnings per share (EPS) and EBITDA projections were significantly lowered, further alarming shareholders. This news led to a considerable drop in Atkore's stock, plummeting nearly 20% from $79.72 to $64.13 per share within a day.

Participation in the Class Action

Shareholders of Atkore Inc. who are considering their options may be eligible to file as lead plaintiffs in the class action. Those interested must submit their application to the relevant court by April 23, 2025. Being a lead plaintiff allows individuals to have a direct role in the litigation process, representing the interests of other shareholders. However, participation is not a prerequisite for any potential recovery of losses associated with the case. If shareholders prefer not to engage actively, they can remain absent class members and still qualify for any recovery once the case concludes.

Robbins LLP operates on a contingency fee basis, meaning clients do not incur fees until a recovery is achieved, making it a viable option for investors concerned about legal costs.

About Robbins LLP

Founded in 2002, Robbins LLP has established itself as a prominent firm specializing in shareholder rights litigation. The firm’s mission has centered around helping investors recover their losses, reshaping corporate governance, and holding executives accountable for their actions. With a dedicated team of attorneys, Robbins LLP provides resources and expertise aimed at protecting investors' interests.

Keeping Updated

Investors interested in staying informed about the class action and any developments regarding Atkore Inc. can sign up for alerts through the Stock Watch service offered by Robbins LLP. This service offers updates without any associated costs or commitments.

For additional inquiries, interested parties can connect with attorney Aaron Dumas, Jr., or reach Robbins LLP at (800) 350-6003 for more detailed information about their legal options regarding this case.