James Hardie(US:JHX) Globenewswireยท2025-10-28 10:00Core Viewpoint - The James Hardie Industries plc is facing a class action lawsuit due to alleged violations of the Securities Exchange Act of 1934, with claims that the company misled investors about its sales performance during a period of inventory destocking [1][3][4]. Group 1: Class Action Lawsuit Details - The class action lawsuit is titled "Laborers' District Council and Contractors' Pension Fund of Ohio v. James Hardie Industries plc" and covers purchasers of James Hardie common stock from May 20, 2025, to August 18, 2025 [1]. - Investors have until December 23, 2025, to seek appointment as lead plaintiff in the lawsuit [1]. - The lawsuit alleges that James Hardie executives made false statements about the strength of the North America Fiber Cement segment, despite evidence of inventory destocking [3]. Group 2: Financial Impact - On August 19, 2025, James Hardie disclosed a 12% decline in sales in the North America Fiber Cement segment, attributed to customer destocking [4]. - Following this disclosure, the company's stock price dropped by over 34% [4]. Group 3: Legal Process and Representation - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased James Hardie common stock during the class period to seek lead plaintiff status [5]. - The lead plaintiff will represent the interests of all class members and can choose a law firm for litigation [5]. Group 4: About Robbins Geller - Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in securities fraud and shareholder litigation, having recovered over $2.5 billion for investors in 2024 alone [6]. - The firm has been ranked 1 in securing monetary relief for investors in securities class action cases for four out of the last five years [6].