Class Action Lawsuit Filed Against Atkore Inc.
NEW YORK, April 14, 2025 /PRNewswire/ - Pomerantz LLP announces that a class action lawsuit has been filed against Atkore Inc. ("Atkore" or the "Company") (NYSE: ATKR). Such investors are advised to contact Danielle Peyton at dp@pomerantzlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Atkore and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until April 23, 2025 to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Atkore securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
Click here for information about joining the class action
On February 4, 2025, 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, which also missed analysts' estimates. During the corresponding earnings call that same day, Atkore's Chief Financial Officer ("CFO") John M. 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." During that same call, CFO Deitzer 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, Atkore's stock price fell $15.19 per share, or 19.15%, to close at $64.13 per share on February 4, 2025.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dp@pomerantzlaw.com
646-581-9980 ext. 7980
SOURCE Pomerantz LLP
