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

CLASS PERIOD
02/01/2024 - 02/03/2025

LEAD PLAINTIFF DEADLINE
04/23/25

RELATED DOCUMENTS
Complaint 02/21/25

STOCK SYMBOL
NYSE: ATKR

CONTACT
844-916-0895
[email protected]

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 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.

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. 

Investors began to learn the truth 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.”  In response, CEO William E. Waltz said shortly afterward that “I’m going to claim that report is unsubstantiated from the conclusions it tries to make.”

Then, on February 4, 2025, Atkore announced 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. The company blamed the poor performance and guidance reduction on the poor performance by its PVC business. Following the company’s announcement, analysts factored in their models that the company was and would continue to have to reduce PVC pipe prices to be competitive after COVID-related supply chain pressures eased.

The market reacted swiftly that day, sending the price of Atkore shares down $15.59 (-20%) and wiping out almost $525 million of shareholder value.

FREQUENTLY ASKED QUESTIONS ABOUT THE CASE

What is the ATKR investigation about?

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.

WHAT SHOULD I DO?

I worked at ATKR. What should I do?

If you were an employee of ATKR, you may have valuable information that could be relevant to the investigation. Hagens Berman is one of the nation’s top whistleblower law firms, and has successfully represented many individuals who come forward with information regarding corporate malfeasance. Under the new SEC Whistleblower 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, contact Reed Kathrein at 844-916-0895 or [email protected].

There are multiple law firms participating, do I need to contact all of them?

No, you do not need to contact all participating law firms. Generally, class-action investigations and lawsuits are consolidated into a single case to streamline the legal process, and attorneys from only a few law firms are selected to serve in a leadership role on the consolidated case. Hagens Berman has a proven track record of being appointed to leadership roles in complex, multidistrict litigation regarding investor fraud and other consumer rights issues, and your claim will be handled by attorneys who have helped secure approximately $325 billion in class-action settlements on behalf of individuals who have suffered due to corporate malfeasance and the wrongdoing of other powerful institutions.

AM I ELIGIBLE?

What is the threshold amount to be eligible? What are “substantial” losses?

The threshold amount and the definition of "substantial" losses may vary depending on a number of factors specific to the case, including the size of the company, market cap, shares outstanding and who holds them and the damages alleged by the fraud. In general, to be eligible to participate in a class-action lawsuit, you must be able to demonstrate that you suffered financial losses as a result of the alleged wrongdoing and that your losses meet the criteria set by the court or law firm. Fill out the form and submit your losses.

CAN I PARTICIPATE?

Am I affected? What do I need to do to participate?

If you were an investor in ATKR, you may be affected and eligible to participate in the case. To determine your eligibility and potential involvement, fill out the form and submit your losses.

Can any ATKR investor participate?

In most class-action investigations and cases, any investor who meets the eligibility criteria, including purchasing the shares during the relevant period, can participate, regardless of the size of their investment. Fill out the form to find out your rights.

I bought on a non-U.S. Exchange. Can I participate?

No. This investigation only covers shares bought on a U.S. exchange, i.e. NASDAQ or NYSE. Fill out the form to find out your rights.

Am I included if I still hold my shares, or do I need to sell to participate?

Participation is based on purchasing shares during the relevant period, rather than your current holdings. Accordingly, you do not need to sell to participate. Fill out the form to find out your rights.

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