#United States #New York #Class Action #Pomerantz LLP #Atkore Inc.

Pomerantz Law Firm Issues Notice on Atkore Inc. Class Action

In a significant development for investors of Atkore Inc. (NYSE: ATKR), the Pomerantz Law Firm has announced the initiation of a class action lawsuit against the company. This legal move comes in light of recent financial disclosures by Atkore that have raised alarms about potential securities fraud by the company's management.

Background of the Case

On April 22, 2025, Pomerantz LLP reported that the lawsuit relates to the company's alleged unlawful business practices which may have resulted in substantial financial losses for its investors. The lawsuit specifically addresses whether Atkore and certain associated executives engaged in misleading or fraudulent activities that negatively impacted shareholders' investments.

Investors who have incurred losses due to their purchases or acquisitions of Atkore securities during the specified class period are being encouraged to act swiftly. The firm advises affected investors to reach out to Danielle Peyton via email at dpayton@pomerantzlaw.com or by telephone at 646-581-9980. Interested parties can also use the toll-free number 888.4-POMLAW, extension 7980. To streamline the process, those contacting via email are reminded to provide their physical mailing address, phone number, and details of the shares purchased.

Key Events that Triggered the Lawsuit

The catalyst for this legal action was Atkore's financial report for the first quarter of its fiscal year 2025, released on February 4, 2025. The report disclosed net sales of $661.6 million, which fell short of analysts’ projections set at $680.7 million, marking a significant disappointment for market participants. The company's adjusted earnings per share (EPS) and guidance for its earnings before interest, taxes, depreciation, and amortization (EBITDA) were also substantially reduced, casting doubt on Atkore’s financial health moving forward.

During the conference call following the earnings report, Atkore's Chief Financial Officer, John M. Deitzer, noted that one of their key product categories, the plastic pipe and conduit, experienced a decline in sales. He indicated that this decline, previously reported in high single digits the prior year, was now in the mid-single digits for the current quarter. Furthermore, CFO Deitzer attributed the downgrade of future guidance primarily to expected poor performance in Atkore's PVC business, forecasting about $75 million of the shortfall would occur in this category alone.

The market reaction was immediate. Following this news, Atkore's stock experienced a plummet of $15.19 per share, equating to a 19.15% drop, closing the day at $64.13 per share. The sudden loss of investor confidence prompted Pomerantz to spring into action, filing a class action suit to represent those who suffered financially as a result.

Pomerantz Law Firm’s Role

Pomerantz LLP has a long-standing reputation as a formidable player in the realm of corporate law, particularly in securities fraud litigation. The firm, established over 85 years ago by the late Abraham L. Pomerantz, is recognized as one of the premier law firms specializing in class action lawsuits, securities fraud, and related areas of law. The firm's commitment continues to focus on advocating for the rights of investors who have been victims of misleading business practices.

Pomerantz has a legacy of recovering significant damages for class members, having successfully represented many clients in securities fraud cases. This recent class action against Atkore reflects the firm's ongoing commitment to ensuring justice for investors who may have been misled.

For further details on the lawsuit and to access the complaint, potential class members can visit www.pomerantzlaw.com.

Conclusion

Investors in Atkore Inc. are encouraged to stay informed and consider their options as the legal landscape unfolds. With the deadline for filing to become a lead plaintiff approaching on April 23, 2025, time is of the essence for those looking to join this class action lawsuit. Pomerantz LLP remains at the forefront, providing essential resources to navigate this complex situation and seeking accountability for any misconduct attributed to Atkore's management.