Atkore Leaders Sued for Alleged Pipe Price Fixing Stock Fall

Atkore Inc. management concealed price fixing bolstered financial success of its water and electrical conduit pipes, only to lower fiscal guidance after allegations surfaced, a shareholder derivative lawsuit said.

Share prices fell almost 20% the day Atkore lowered its fiscal year 2025 adjusted earnings guidance, in part due to dim PVC pipe expectations, said shareholder Mike Blatzer’s complaint filed in the US District Court for the Northern District of Illinois Tuesday. It was the stock’s most significant single-day tumble since March 2020 at that point, according to data compiled by Bloomberg.

Current and former Atkore leaders caused the manufacturer to ...