Atkore Inc. (ATKR) Class Period Expanded In Second Securities Class Action Suit Over Recording Of Potentially Improper Revenues – Hagens Berman

SAN FRANCISCO, March 20, 2025 (GLOBE NEWSWIRE) -- A second class action lawsuit has been filed against Atkore Inc. (NYSE: ATKR) , a prominent manufacturer of electrical products, which include metal electrical conduit and fittings, plastic pipe conduit and fittings, electrical cable and flexible conduit, and international cable management systems. The second suit, captioned Coles, II v. Atkore Inc., et al., No. 1:25-cv-02686 (N.D. Ill.), seeks to represent investors who purchased or acquired Atkore common stock during an expanded class period – namely, between August 2, 2022 and February 3, 2025.

Hagens Berman is investigating the alleged claims and urges investors who purchased Atkore shares and suffered substantial losses to submit your losses now .

Expanded Class Period: Aug. 2, 2022 – Feb. 3, 2025
Lead Plaintiff Deadline: Apr. 23, 2025
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Contact the Firm Now: ... | 844-916-0895

Events Leading Up To The Securities Class Action:

In the recent past, Atkore has said that“[t]he principle markets that we serve are highly competitive[]” and that its internal control over financial reporting has been sufficient to“provide reasonable assurance regarding the preparation of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles[.]”

The company has recently downplayed accusations of having engaged in anticompetitive misconduct related to its PVC water pipe and PVC conduit pricing since approximately 2021, related to pricing of PVC pipes sold in the United States and, more specifically, downplayed that“PVC pipe manufacturers improperly shared otherwise confidential information through their contribution of information to, and readership of, a weekly report called 'PVC & Pipe Weekly' published by [...] Oil Pipe Information Service, LLP ('OPIS').” While the company has maintained that“there are defenses, both factual and legal” the complaint in the suit alleges otherwise.

Investors began to learn the truth through a series of partial disclosures, including:

• On May 7, 2024, when Atkore released its Q2 2024 financial results and lowered its FY 2024 projections“due to several factors impacting our [High-Density Polyethylene ('HDPE')] and solar-related initiatives[]” while noting that the“pricing environment could be challenged in the second half of 2024[;]”
• On July 23, 2024, when Atkore abruptly announced that its CFO and Chief Accounting Officer submitted his resignation;
• On July 24, 2024, when the short seller firm ManBear published a report accusing Atkore and three other PVC pipe manufacturers of using the commodity pricing service OPIS to coordinate pricing actions, thereby fixing PVC pipe prices and“result[ing] in massively inflated” PVC pipe prices that“defy economic logic[;]”
• On August 6, 2024, when Atkore released disappointing Q3 2024 financial results and again slashed its FY 2024 projections, blaming“overall soft pricing environment across most of our Electrical business[;]” and
• On February 4, 2025, when Atkore released dismal Q1 2025 financial results, including net sales that missed analysts' estimates by a wide margin, and slashed its adjusted EPS and EBITDA guidance for the remainder of 2025, blaming“decreases in average selling prices and sales volume.”
  

Each of these revelations drove the price of Atkore shares significantly lower.

The Atkore Inc. (ATKR) Securities Class Action

The complaint alleges that Atkore made false and misleading statements, while failing to disclose crucial information. Specifically, the suit contends that Atkore: (1) engaged in an anticompetitive price-fixing scheme that artificially inflated the price of its PVC pipes; (2) reaped significant, unsustainable financial benefits from its anticompetitive conduct; (3) as the price-fixing scheme was exposed, it and its 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; and (4) its business and operations were negatively impacted.

“We are concerned that Atkore may have misled investors about how it and its potential co-conspirators may have rigged their PVC pipe market and, thereby, artificially inflated their revenues during the class period,” said Reed Kathrein, the Hagens Berman Partner leading the firm's probe.

If you invested in Atkore and have substantial losses, or have knowledge that may assist the firm's investigation, submit your losses now .

If you'd like more information and answers to frequently asked questions about the Atkore case and our investigation, read more .

Whistleblowers: Persons with non-public information regarding Atkore should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email ... .

About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com . Follow the firm for updates and news at @ClassActionLaw .

Contact:
Reed Kathrein, 844-916-0895

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