Grabar Law Office is investigating claims on behalf of Atkore Inc. (NYSE: ATKR) shareholders. The investigation concerns whether certain officers of Atkore have breached their fiduciary duties owed to the company.

An underlying securities fraud class action alleges that the Atkore Inc., through certain of its executives, violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Atkore engaged in an anticompetitive price-fixing scheme that artificially inflated the price of PVC Pipes; (2) in turn, Atkore reaped significant, unsustainable financial benefits from its anticompetitive conduct; (3) 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; (4) Atkore's business and operations were negatively impacted; and (5) as a result of the above, Defendants' positive statements about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On February 4, 2025, when Atkore 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. Additionally, Atkore 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. During the corresponding earnings call that same day, CFO Deitzer disclosed that Atkore's "plastic pipe and conduit product category declined mid-single digits during the quarter[,]" compared to "high single digits in the prior year." CFO Deitzer also 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."

On this news, the price of Atkore common stock fell $15.59 per share, or nearly 20%, from a closing price of $79.72 per share on February 3, 2025, to a closing price of $64.13 per share on February 4, 2025

Current Atkore shareholders who have held Atkore stock since on or before February 1, 2024, or alternatively, who purchased shares between February 1, 2024 and February 3, 2025, are encouraged to contact us at [email protected], or call 267-507-6085 to learn more about their rights. You may be able to seek damages, corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to you whatsoever.