Atkore Class Action Lawsuit: A Detailed Look
On March 6, 2025, the law firm of Robbins Geller Rudman & Dowd LLP announced the filing of a class action lawsuit against Atkore Inc. (Atkore) and certain of its top executives. The lawsuit, captioned Westchester Putnam Counties Heavy & Highway Laborers Local 60 Benefits Fund v. Atkore Inc., is pending in the United States District Court for the Northern District of Illinois under case number 25-cv-01851. The complaint alleges that Atkore and its executives violated the Securities Exchange Act of 1934.
Background
Atkore is a leading manufacturer of electrical and industrial products. The company’s common stock is traded on the New York Stock Exchange under the symbol “ATKR.”
Allegations
The complaint alleges that Atkore and its executives made false and misleading statements and failed to disclose material information regarding the company’s financial condition and business prospects. Specifically, the complaint alleges that the defendants failed to disclose that Atkore was experiencing declining sales and profitability in its electrical products segment, which accounted for the majority of the company’s revenue.
Executive Departures
The lawsuit also alleges that certain executives sold large amounts of Atkore stock prior to the public disclosure of the company’s financial struggles. This information, the complaint alleges, was not disclosed to the investing public, and the executives’ sales constituted insider trading.
Impact on Atkore Shareholders
The lawsuit seeks to represent purchasers of Atkore common stock between October 27, 2022, and February 16, 2023. The plaintiffs allege that they suffered damages as a result of their purchases of Atkore stock during this period, which was allegedly artificially inflated by the defendants’ false and misleading statements.
Impact on the World
The Atkore class action lawsuit is significant because it highlights the importance of transparency and honesty in corporate reporting. The lawsuit alleges that Atkore and its executives failed to provide investors with accurate information about the company’s financial condition and business prospects. This, in turn, could have led investors to make decisions based on incomplete or inaccurate information.
Conclusion
The Atkore class action lawsuit is a reminder of the importance of accurate corporate reporting and the potential consequences of false or misleading statements. The lawsuit alleges that Atkore and its executives failed to disclose material information, which could have had a significant impact on the price of Atkore common stock. The outcome of the lawsuit could result in substantial damages for affected shareholders and could serve as a deterrent to other companies and executives from engaging in similar conduct.
- Atkore class action lawsuit filed against company and executives
- Allegations of violations of Securities Exchange Act of 1934
- Lawsuit seeks to represent purchasers of Atkore common stock between October 27, 2022, and February 16, 2023
- Plaintiffs allege that defendants made false and misleading statements and failed to disclose material information
- Executives allegedly sold large amounts of stock prior to public disclosure of financial struggles
- Impact on Atkore shareholders could be substantial damages
- Impact on the world serves as reminder of importance of accurate corporate reporting
