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Published March 21, 2025
After PVC pipe manufacturer Atkore became the target of an antitrust lawsuit, its stock price sprung a major leak. Irate investors dumped their shares and the Company’s stock price plunged 20%. Now, some investors have filed a class-action to plug up their losses.
In July 2024, a shortseller report revealed price fixing in the US PVC pipe industry. The report accused Atkore and other US PVC manufactures of illegally price coordination. In August 2024, Atkore became the target of a civil antitrust lawsuit. The lawsuit accused the Atkore of using the PVC-price cartel to illegally inflate the Company's profits. The lawsuit alleges Atkore’s revenue was unsustainable without the illicit cartel scheme.
In February 2025, Atkore’s profits sprung a leak when the Company announced horrible financial results. The Company slashed its financial guidance and furious investors rapidly ditched their shares.
Now, some of those investors are joining the lawsuit.