Kaskela Law LLC is investigating potential breach of fiduciary duty claims concerning Atkore Inc. (NYSE: ATKR) on behalf of the company’s long-term shareholders.

Recently a securities fraud complaint was filed against Atkore on behalf of certain investors who purchased shares of the company’s stock between February 1, 2024 and February 3, 2025 (the “Class Period”).

According to the complaint, during the Class Period Atkore and several of the company’s executive officers made a series of materially false and misleading statements, and failed to disclose that: (i) Atkore engaged in an anticompetitive price-fixing scheme that artificially inflated the price of PVC Pipes; (ii) Atkore reaped significant, unsustainable financial benefits from its anticompetitive conduct; and (iii) as Atkore’s price-fixing scheme was exposed, the Company and its price-fixing co-conspirators were no longer able to artificially inflate the price of PVC Pipes, resulting in a substantial decrease in the price of PVC Pipes.

As further detailed in the complaint, the truth was revealed on February 4, 2025, when Atkore: (i) announced its financial results for the first quarter of fiscal year 2025, reporting net sales of $661.6 million—below analysts’ estimates of $680.7 million, and (ii) significantly reduced its adjusted earnings per share (“EPS”) and adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”) guidance for the rest of fiscal year 2025, which also missed analysts’ estimates.  During a conference call to discuss those quarterly results, Atkore’s Chief Financial Officer attributed the guidance reduction to the forthcoming poor performance of Atkore’s PVC business, stating, “I’d say roughly $75 million or 3/4 of that is on the PVC side.”  Following this news, shares of Atkore’s stock fell $15.59 per share, or nearly 20% in value, to close on February 4, 2025 at $64.13 per share, on unusually heavy trading volume.

The investigation seeks to determine whether the members of Atkore’s board of directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct.

Current Atkore shareholders who have owned the company’s shares since at least February 1, 2024 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by completing the form on this page, to receive additional information about this investigation and their legal rights and options.

CONTACT:

KASKELA LAW LLC
D. Seamus Kaskela, Esq.
([email protected])
Adrienne Bell, Esq.
([email protected])
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 229 – 0750