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

Significant Investor Alert: Atkore Inc. Class Action Opportunity

On March 17, 2025, Robbins Geller Rudman & Dowd LLP, a prominent law firm, announced the initiation of a class action lawsuit against Atkore Inc., marked with the title Westchester Putnam Counties Heavy Highway Laborers Local 60 Benefits Fund v. Atkore Inc. This legal action comes in response to allegations of serious financial misconduct by the company and its executives, claiming violations of the Securities Exchange Act of 1934.

Background of the Case

Atkore Inc., a company engaged in manufacturing and selling electrical, mechanical, safety, and infrastructure products, has reportedly faced significant challenges regarding its business practices. According to the lawsuit, the plaintiffs allege that Atkore's executives were involved in an anticompetitive price-fixing scheme that resulted in the artificial inflation of PVC pipe prices. The implications of these actions are dire, as they contributed to a substantial financial downturn for the company and its investors.

The lawsuit claims that throughout the relevant class period, Atkore disseminated false and misleading statements to shareholders, which obscured the company’s true financial position. The failure to disclose critical operational issues and the existence of the alleged price-fixing scheme misled investors, ultimately leading to substantial losses when the underlying issues came to light.

Recent Developments

In a troubling Q1 financial report for fiscal year 2025, Atkore disclosed net sales of just $661.6 million, a staggering 17% drop year-over-year, and below analysts' expectations of $680.7 million. The guidance issued for the remainder of the fiscal year further compounded investor worries, reducing expectations for adjusted earnings per share (EPS) and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) significantly from prior estimates. This financial downturn led to nearly a 20% plummet in Atkore's stock price following the announcement, prompting many investors to reassess their positions regarding the company.

Becoming a Lead Plaintiff

For individuals who have experienced substantial losses and are interested in participating in the class action, Robbins Geller offers an opportunity to step forward as a lead plaintiff. The process allows any investor who purchased Atkore common stock during the specified class period to seek lead plaintiff status. The firm underscores that this role is typically granted to individuals with the greatest financial interest in pursuing relief for the class.

Should you wish to proceed with this, it is crucial to be aware that the deadline for lead plaintiff motions is set for April 23, 2025. Interested investors can find more information on how to initiate this process by visiting Robbins Geller’s official site or by contacting their offices directly.

About Robbins Geller

Robbins Geller Rudman & Dowd LLP stands as a leading law firm with a profound history in securities fraud litigation. Their track record includes recovering over $6.6 billion for investors across various securities-related class action cases, with many notable successes, including achieving the largest recovery in U.S. history related to securities fraud. The firm aims to offer robust representation for affected investors and seeks to hold corporations accountable for their actions detrimentally affecting shareholder value.

For more detailed inquiries, you can reach out to Robbins Geller’s attorneys, J.C. Sanchez or Jennifer N. Caringal, at 800-449-4900.

Conclusion

As the legal proceedings progress, affected Atkore investors are encouraged to stay informed and consider their options for recourse. The class action lawsuit may provide a vital path for vindication and financial recovery in light of the significant challenges posed by the alleged misconduct of Atkore and its executives.