Atkore (ATKR) Prnewswire·2025-03-16 23:20Core Viewpoint - A securities class action lawsuit has been filed against Atkore Inc. for alleged anticompetitive practices related to price-fixing of PVC pipes, impacting the company's financial performance and misleading investors during the class period from August 2, 2022, to February 3, 2025 [1][2]. Group 1: Allegations Against Atkore - The lawsuit claims that Atkore engaged in a price-fixing scheme that artificially inflated the prices of PVC pipes, including both water and electrical conduit pipes [2]. - It is alleged that Atkore benefited financially from this anticompetitive conduct, which was unsustainable [2]. - As the price-fixing scheme was exposed, the prices of PVC pipes significantly decreased, negatively impacting Atkore's business and operations [2]. - The positive statements made by Atkore regarding its business and prospects were claimed to be materially false and misleading [2]. Group 2: Legal Process and Participation - Investors in Atkore have until April 23, 2025, to seek appointment as lead plaintiff representatives in the class action [3]. - A lead plaintiff is typically the investor or small group of investors with the largest financial interest in the case [3]. - Investors can choose to participate actively or remain as absent class members without affecting their ability to share in any recovery [3].