ATKR LEGAL NEWS: A Class Action was filed on behalf of Atkore Inc. Investors for Fraud - Contact BFA Law if You Suffered Losses

Core Viewpoint - A lawsuit has been filed against Atkore Inc. and its senior executives for potential violations of federal securities laws, specifically related to misrepresentations about PVC Pipe pricing and an alleged price-fixing scheme [1][2][5]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the Northern District of Illinois, with claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [2]. - Investors have until April 23, 2025, to seek appointment to lead the case [2]. Group 2: Company Background - Atkore manufactures electrical, safety, and infrastructure products, including PVC Pipe [3]. - The company faced challenges during the COVID-19 pandemic, which led to increased shipping costs and a temporary exit of foreign PVC Pipe manufacturers from the U.S. market [3]. Group 3: Allegations of Misrepresentation - Atkore allegedly misrepresented that post-pandemic PVC Pipe price declines were due to "pricing normalization" and "competitive dynamics," misleading investors about its market position [4]. - An activist investor report accused Atkore of engaging in an anticompetitive price-fixing scheme that artificially inflated PVC Pipe prices [5]. Group 4: Stock Performance and Impact - Following disappointing earnings and reduced guidance, Atkore's stock price fell nearly 20%, from $79.72 on February 3, 2025, to$64.13 on February 4, 2025 [6]. - The company attributed a significant portion of the guidance reduction, approximately $75 million or 75% of the reduction, to its PVC Pipe business [6]. Group 5: Regulatory Scrutiny - On February 14, 2025, Atkore disclosed receiving a grand jury subpoena from the U.S. Department of Justice Antitrust Division regarding the pricing of its PVC products [7].