James Hardie(US:JHX) Globenewswire·2025-10-27 18:09Core Viewpoint - A class-action lawsuit has been filed against James Hardie Industries plc, alleging securities fraud related to misleading statements about inventory levels and customer demand in its North American segment [1][3][5]. Group 1: Lawsuit Details - The lawsuit, titled Laborers' District Council & Contractors' Pension Fund of Ohio v. James Hardie Industries PLC, covers a class period from May 20, 2025, to August 18, 2025, and seeks damages for violations of the Securities Exchange Act of 1934 [2][4]. - The lead plaintiff deadline is set for December 23, 2025, and the lawsuit is filed on behalf of all investors who purchased James Hardie common stock during the specified class period [2]. Group 2: Allegations Against the Company - The complaint centers on the North America Fiber Cement segment, which accounts for approximately 80% of James Hardie's total earnings [3]. - Plaintiffs allege that management denied significant inventory destocking trends observed in April and May 2025, misleading investors about the segment's strength [3][4]. - Executives allegedly made false statements around May 20 and 21, 2025, claiming robust customer demand while denying inventory destocking, which concealed underlying sales issues [4]. Group 3: Impact of the Allegations - On August 19, 2025, James Hardie disclosed a 12% decline in sales for the North America Fiber Cement division, attributing it to the customer destocking previously denied [5]. - Following this disclosure, the company's stock price fell by over 34%, leading to significant losses for investors [6]. - The lawsuit aims to recover damages for investors who suffered financial injuries due to the alleged wrongful acts during the class period [6].