Securities fraud lawsuits filed against Atkore Inc. over price-fixing scheme

In the United States, on March 15, 2025, Kessler Topaz Meltzer & Check, LLP announced that securities class action lawsuits have been initiated against Atkore Inc. These lawsuits represent investors who purchased Atkore stock from August 2, 2022, to February 3, 2025, during a period identified as the Class Period. Investors are encouraged to reach out to the law firm to understand their rights and the potential for recovery related to alleged misconduct by Atkore. The lead plaintiff deadline for filing claims is established for April 23, 2025. The complaints against Atkore include allegations of engaging in an anticompetitive price-fixing scheme that artificially inflated the prices of PVC pipes, which are essential products for infrastructure projects. During this period, Atkore reportedly benefitted financially from these actions but ultimately led to substantial negative repercussions when the price-fixing scheme was uncovered. The law firm outlined that as the scheme was exposed, Atkore ceased being able to maintain the inflation of PVC pipe prices, impacting the company’s business operations negatively. The lawsuits claim that Atkore made various false and misleading statements concerning its business prospects and market position during the class period. Statements made by Atkore's management were deemed materially false, as they failed to disclose the ongoing anticompetitive activities and the inevitable fallout that would come from any subsequent investigations or disclosures. The impact of the alleged misconduct has led to a significant decline in Atkore's stock value, affecting many investors who are now seeking redress through the legal system. The attorney Jonathan Naji, who is associated with the case, encourages affected investors to act promptly, as those interested in becoming lead plaintiffs must submit their applications by April 23, 2025. Being a lead plaintiff can facilitate investors in driving the litigation process and potentially securing a better outcome for themselves and the class as a whole. Overall, the situation surrounding Atkore underscores the legal vulnerabilities companies face when engaging in deceptive business practices.