Gainey McKenna & Egleston Files Securities Class Action Lawsuit Against Atkore Inc.
NEW YORK, Feb. 24, 2025 – Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of all persons or entities who purchased or otherwise acquired Atkore Inc. (“Atkore” or the “Company”) (NYSE: ATKR) securities between February 1, 2024, and February 3, 2025, inclusive (the “Class Period”).
Background on Atkore Inc.
Atkore Inc. is a leading manufacturer of electrical and electronic products in North America. The Company’s product offerings include electrical raceway and cable management systems, electrical boxes and enclosures, and wire and cable. Atkore operates through its subsidiaries, including Atkore International Holdings, Inc., and its primary brands, which include Boltron, IPS, and Thomas & Betts.
Allegations in the Lawsuit
The complaint alleges that during the Class Period, Atkore made false and/or misleading statements and/or failed to disclose material adverse facts about the Company’s business, operations, and financial condition. Specifically, the complaint alleges that Atkore failed to disclose that it was experiencing supply chain disruptions and inflationary pressures, which were negatively impacting its financial results. The complaint also alleges that the Company’s executives made misleading statements regarding the Company’s ability to mitigate these issues and meet its financial guidance.
Impact on Atkore Shareholders
As a result of these alleged false and misleading statements, Atkore’s stock traded at artificially inflated prices during the Class Period. When the truth was revealed, the price of Atkore’s stock declined significantly, causing harm to investors. The complaint seeks to recover damages on behalf of the Class.
Impact on the World
The impact of this securities class action lawsuit extends beyond just Atkore’s shareholders. The Company’s supply chain disruptions and inflationary pressures are not unique to Atkore and are affecting numerous industries and businesses worldwide. This lawsuit highlights the importance of transparency and accurate disclosure in the business world, particularly in times of economic uncertainty.
Conclusion
The filing of this securities class action lawsuit against Atkore Inc. is a significant development for the Company and its shareholders. The allegations in the lawsuit, if proven true, could result in significant damages for the Class. Additionally, the impact of supply chain disruptions and inflationary pressures continues to be felt by businesses and individuals around the world. As the legal proceedings unfold, it will be important for investors to closely monitor the situation and for businesses to prioritize transparency and accurate disclosure in their reporting.
- Atkore Inc. is facing a securities class action lawsuit in the Northern District of Illinois alleging false and misleading statements and failure to disclose material adverse facts during the Class Period.
- The lawsuit seeks damages on behalf of all persons or entities who purchased or otherwise acquired Atkore securities during the Class Period.
- The allegations center around Atkore’s failure to disclose supply chain disruptions and inflationary pressures, which negatively impacted its financial results.
- The impact of this lawsuit extends beyond just Atkore’s shareholders, as supply chain disruptions and inflationary pressures continue to affect businesses and individuals worldwide.
- Transparency and accurate disclosure are crucial in the business world, particularly in times of economic uncertainty.
