Potential Class Action Lawsuit for Atkore Inc. Investors Facing Substantial Losses

Atkore Inc. Investors Press On: A Possible Class Action Lawsuit

In a significant development for investors in Atkore Inc. (NYSE: ATKR), the well-known law firm Robbins Geller Rudman & Dowd LLP has announced the initiation of a class action lawsuit aimed at representing buyers of Atkore common stock. The case, officially titled Westchester Putnam Counties Heavy & Highway Laborers Local 60 Benefits Fund v. Atkore Inc., No. 25-cv-01851 (N.D. Ill.), claims that the company, along with key executives, has violated the Securities Exchange Act of 1934.

This alert is particularly pertinent for investors who have suffered considerable financial losses, as Robbins Geller is calling for individuals to step forward and serve as lead plaintiffs in this class action lawsuit. Those interested can submit their information via the firm’s website.

Allegations Against Atkore Inc.

The crux of the allegations centers around Atkore's purported involvement in an anticompetitive scheme. According to the lawsuit, the company engaged in price-fixing that artificially kept the price of PVC pipes inflated. This deceitful practice allegedly led to substantial, albeit temporary, financial gains for Atkore, ultimately harming investors once the truth came to light.

As disclosed in their financial report on February 4, 2025, Atkore revealed a dismal first-quarter performance, reporting net sales of $661.6 million, which marks a steep 17% decline year-over-year and falls short of analysts' expectations of $680.7 million. The company also adjusted its earnings guidance downward, predicting an adjusted EPS between $5.75 to $6.85 and an EBITDA in the range of $375 million to $425 million. This stark reduction compared to earlier guidance prompted a nearly 20% drop in Atkore's stock price, signaling to investors that the company’s creativeness in revenue generation was no longer sustainable.

The lawsuit outlines that Atkore executives made numerous false statements and omitted critical disclosures during the class period. Such misleading information includes claims about the integrity of their pricing practices and the overall health of their financials, which they allegedly knew were both unsound and misleading.

The Lead Plaintiff Process Explained

Under the Private Securities Litigation Reform Act of 1995, any investor who acquired Atkore shares during the class period can submit a request to be named lead plaintiff. The lead plaintiff plays a crucial role in directing the lawsuit on behalf of the other members of the class. Importantly, it’s worth noting that investors are not required to serve as lead plaintiffs to participate in any potential recovery.

This measure ensures that those who may have been substantially affected by the alleged misconduct have a platform to seek justice. Investors who select to pursue this option will also have the ability to choose the law firm of their preference for representation in the lawsuit.

About Robbins Geller

Robbins Geller Rudman & Dowd LLP is recognized as a leader in representing investors in cases of securities fraud. Over the years, the firm has achieved remarkable successes, recovering over $6.6 billion for investors through various securities-related class actions, making them one of the premier firms in this field.

Their long-standing history of aggressive representation in the court system has earned them the trust of the investment community, ranking at the top for securing monetary relief for investors. Past recoveries include one of the largest securities class action recoveries in history, which reflects positively on their track record in navigating complex securities litigation.

For any investor who has been affected by their dealings with Atkore Inc. and is considering joining the lawsuit, the opportunity to do so will close on April 23, 2025. Contact information for the Robbins Geller attorneys handling the case is readily available for those who wish to seek initial legal counsel and explore their options.

In light of these developments, investors should stay informed and consider their next steps carefully. The ongoing situation with Atkore serves as a reminder of the importance of transparent corporate practices and the potential risks that may arise from deceptive conduct within the marketplace.