SAN FRANCISCO, CA – (March 5, 2025) – National plaintiffs law firm Lieff Cabraser Heimann & Bernstein, LLP encourages investors in Atkore Inc. (“Atkore” or the “Company”) (NYSE: ATKR) who purchased Atkore common stock between February 1, 2024, and February 3, 2025, inclusive (the “Class Period”) to contact us immediately regarding a pending securities class action against Atkore. The deadline to apply to be lead plaintiff is April 23, 2025.
Class Period: February 1, 2024 – February 3, 2025
Lead Plaintiff Motion Deadline: April 23, 2025
Case information: https://lieffcabraser.com/securities/atkore/
Contact us: Email or text investorinfo@lchb.com or call 1-800-541-7358
Atkore, headquartered in Harvey, Illinois, is a manufacturer of electrical, safety, and infrastructure products, including polyvinyl chloride (“PVC”) water pipes and electrical conduit pipes.
The action alleges that, throughout the Class Period, Atkore and certain of its senior executives failed to disclose to investors that: (1) the Company was engaged in an anticompetitive price-fixing scheme that kept the price of its PVC pipes artificially inflated even after COVID era supply chain issues had resolved; (2) Atkore received substantial, unsustainable financial benefits from its anticompetitive actions; and (3) the Company’s poor quarterly financial results were due to it and its co-conspirators refusing to lower their artificially inflated prices even after foreign competitors were able to reenter the market and price PVC appropriately.
On July 24, 2024, asset management firm ManBear released a report claiming that Atkore was engaged in an industry-wide price fixing scheme which had “massively inflated pipe prices” and “appear[ed] to defy economic logic, remaining at extremely elevated levels despite normalized supply chains.” On this news, Atkore’s stock price declined 8.53% from its closing price of $145 per share on July 23, 2024, to close at $132.63 per share on July 24, 2024.
On February 4, 2025, before the market opened, Atkore announced disappointing financial results for the first quarter of fiscal year 2025, reporting net sales of $661.6 million which was significantly below analysts’ estimates. In addition, Atkore reduced its earnings guidance for 2025. During the Company’s earnings conference call with analysts and investors later that day, Atkore CFO, defendant John M. Deitzer, revealed that Atkore’s “plastic pipe and conduit product category declined mid-single digits during the quarter,” and attributed the Company’s lowered 2025 guidance to Atkore’s PVC business, stating “roughly $75 million or 3/4 of that is on the PVC side.” On this news, the price of Atkore common stock fell 19.56% from its closing price of $79.72 per share on February 3, 2025, to close at $64.13 per share on February 4, 2025, on extremely heavy trading volume.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with over 125 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Repeatedly recognized as a “Plaintiffs’ Powerhouse” by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $129 billion in verdicts and settlements. For over 50 years, Lieff Cabraser has remained committed to ensuring access to justice for all.
Source/Contact
Sharon Lee
Lieff Cabraser Heimann & Bernstein, LLP
415 956-1000
slee@lchb.com
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