Globenewswireยท2025-10-24 21:19Core Viewpoint - A class action lawsuit has been filed against James Hardie Industries plc for allegedly violating federal securities laws by issuing false and misleading statements regarding its business and operations [1][2]. Summary by Sections Allegations - The lawsuit claims that James Hardie Industries misled investors about the performance of its North America Fiber Cement segment from May 20 to August 18, 2025, despite knowing about inventory destocking by distributors [2]. - The company falsely asserted that demand was strong and inventory levels were "normal" during this period [2]. Financial Impact - On August 19, 2025, James Hardie reported a 12% sales decline in the North America Fiber Cement segment, attributing it to "normalization of channel inventories" and warned of ongoing weakness [2]. - Following this announcement, the company's share price dropped over 34%, resulting in significant losses for investors [2]. Legal Proceedings - The lawsuit is filed in the Northern District of Illinois and is titled Laborers' District Council and Contractors' Pension Fund of Ohio v. James Hardie Industries plc [3]. - It represents all individuals who purchased or acquired James Hardie Industries common stock between May 20, 2025, and August 18, 2025 [3].