ATKR Settles PVC Pipe Antitrust Lawsuits for $136.5M
Atkore Inc. has entered into settlement agreements totaling $136.5 million to resolve two of three putative class action lawsuits in the In re PVC Pipe Antitrust Litigation. The settlements, which include $72.5 million for Direct Purchaser Plaintiffs and $64 million for Non-Converter Seller Purchaser Plaintiffs, are subject to court approval. The company plans to use available cash for the payments, which will be reflected as a non-operating expense in the quarter ended March 27, 2026, and does not expect a material adverse effect on its liquidity. Atkore maintains its non-admission of fault and liability, viewing the settlements as beneficial for avoiding litigation costs and reducing legal uncertainty, while claims from the End User Plaintiffs remain pending.
Key Highlights
- Atkore Inc. settled two putative class action lawsuits for an aggregate of $136.5 million.
- The settlement includes $72.5 million for Direct Purchaser Plaintiffs (DPP Plaintiffs).
- An additional $64 million is allocated for Non-Converter Seller Purchaser Plaintiffs (NCSP Plaintiffs).
- The settlements are subject to preliminary and final approval by the U.S. District Court for the Northern District of Illinois.
- Settlement payments are expected approximately 21 days after preliminary approval, funded by available cash.
- The settlements will be recorded as a non-operating expense in the quarter ended March 27, 2026.
- The company does not admit fault or liability and believes the resolution avoids protracted litigation costs and uncertainty.
- Claims from the End User Plaintiffs, the third putative class, remain pending.