Core Points - A class action lawsuit has been filed against Atkore Inc for alleged securities fraud and unlawful business practices [2][3] - Atkore reported net sales of $661.6 million for Q1 fiscal year 2025, which was below analysts' expectations of $680.7 million [3] - The company significantly reduced its adjusted EPS and EBITDA guidance for the remainder of fiscal year 2025, missing analysts' estimates [3] - Atkore's CFO disclosed a decline in the plastic pipe and conduit product category, attributing $75 million of the guidance reduction to poor performance in the PVC business [3] - Following the announcement, Atkore's stock price dropped by $15.19 per share, or 19.15%, closing at $64.13 per share [3]

Core Viewpoint - Atkore Inc. is facing allegations of engaging in an anticompetitive price-fixing scheme that artificially inflated the price of PVC Pipes, leading to significant financial benefits that were unsustainable [1] Summary by Sections Allegations - The complaint against Atkore claims that during the class period from February 1, 2024, to February 3, 2025, the company made materially false and misleading statements [1] - Specific allegations include: 1. Atkore's involvement in a price-fixing scheme for PVC Pipes [1] 2. The company benefitted financially from this conduct [1] 3. The exposure of the scheme led to a substantial decrease in PVC Pipe prices [1] 4. Atkore's business operations were negatively impacted as a result [1] 5. Positive statements made by the company regarding its business and prospects were misleading [1] Next Steps for Shareholders - Shareholders who purchased shares of Atkore during the specified timeframe are encouraged to register for the class action by April 23, 2025 [2] - Registration allows shareholders to receive updates on the case through portfolio monitoring software [2] Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and illegal business practices [3] - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [3]

Core Viewpoint - The Atkore class action lawsuit alleges that Atkore Inc. and certain executives violated the Securities Exchange Act of 1934, with claims of anticompetitive practices leading to inflated PVC pipe prices and subsequent financial losses for investors [1][4]. Company Overview - Atkore Inc. is engaged in the manufacture and sale of electrical, mechanical, safety, and infrastructure products and solutions [3]. Allegations of the Lawsuit - The lawsuit claims that Atkore participated in a price-fixing scheme that artificially inflated PVC pipe prices [4]. - It is alleged that Atkore benefited financially from this scheme until it was exposed, leading to a significant drop in PVC pipe prices and negatively impacting the company's operations [4]. - Following the exposure of these practices, Atkore reported a 17% year-over-year decline in net sales for Q1 FY 2025, totaling $661.6 million, which was below analysts' expectations [5]. Financial Impact - Atkore's guidance for FY 2025 was significantly reduced, with adjusted EPS expectations lowered from $7.80 to $8.90 to a new range of $5.75 to $6.85, and adjusted EBITDA expectations reduced from $475 million to $525 million to a range of $375 million to $425 million [5]. - The announcement of these financial results led to a nearly 20% drop in Atkore's common stock price [5].

Core Viewpoint - A class action lawsuit has been filed against Atkore Inc. for alleged violations of the Securities Exchange Act due to false and misleading statements regarding its PVC pipe pricing practices [1][4]. Group 1: Lawsuit Details - The lawsuit is based on allegations that Atkore engaged in a price-fixing scheme that artificially inflated the price of its PVC pipes, leading to unsustainable financial benefits for the company [4]. - Investors who purchased Atkore's securities between February 1, 2024, and February 3, 2025, are encouraged to participate in the lawsuit before the deadline of April 23, 2025 [2]. Group 2: Impact on Investors - The revelation of the price-fixing scheme resulted in a substantial decrease in the price of Atkore's PVC pipes, causing significant damages to investors when the truth was disclosed [4]. - The class action has not yet been certified, meaning that affected investors are not currently represented by an attorney unless they take action [3].

NEW YORK, Feb. 28, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Atkore Inc. ("Atkore Inc." or the "Company") (NYSE: ATKR) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Atkore Inc. investors who were adversely affected by alleged securities fraud between February 1, 2024 and February 3, 2025. Follow the link below to get more information and be contacted by a member of our team:https://zlk.com/pslra-1/atkore-inc-lawsuit-submission- ...

SAN FRANCISCO, Feb. 27, 2025 /PRNewswire/ -- A class action lawsuit has been filed against Atkore Inc. (NYSE: ATKR), a prominent manufacturer of electrical products, which include metal electrical conduit and fittings, plastic pipe conduit and fittings, electrical cable and flexible conduit, and international cable management systems. The suit, captioned Westchester Putnam Counties Heavy & Highway Laborers Local 60 Benefits Fund v. Atkore Inc., et al., No. 1:25-cv-01851 (N.D. Ill.), represents investors who ...

NEW YORK, Feb. 27, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Atkore Inc. (NYSE: ATKR).Shareholders who purchased shares of ATKR during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE: https://securitiesclasslaw.com/securities/atkore-inc-loss-submission-form/?id=132359&from=4 CLASS PERIOD: February 1, 2024 to February 3 ...

NEW YORK, Feb. 25, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Atkore Inc. (“Atkore” or the “Company”) (NYSE: ATKR) in the United States District Court for the Northern District of Illinois on behalf of all persons and entities who purchased or otherwise acquired Atkore securities between February 1, 2024 and February 3, 2025, both dates inclusive (the “Class Period”). Investors have u ...

NEW YORK, Feb. 25, 2025 /PRNewswire/ --Why: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action on behalf of purchasers of common stock of Atkore Inc. (NYSE: ATKR) between February 1, 2024 and February 3, 2025, both dates inclusive (the "Class Period"). If you wish to serve as lead plaintiff, you must move the Court no later than April 23, 2025.So what: If you purchased Atkore common stock during the Class Period you may be entitled to compensation without payment of an ...

SAN DIEGO, Feb. 25, 2025 /PRNewswire/ -- The law firm of Robbins Geller Rudman & Dowd LLP announces that the Atkore class action lawsuit – captioned Westchester Putnam Counties Heavy & Highway Laborers Local 60 Benefits Fund v. Atkore Inc., No. 25-cv-01851 (N.D. Ill.) – seeks to represent purchasers of Atkore Inc. (NYSE: ATKR) common stock and charges Atkore and certain of Atkore's top current and former executives with violations of the Securities Exchange Act of 1934.If you suffered substantial losses and ...