James Hardie(US:JHX) Businesswire·2025-11-04 17:06Core Viewpoint - A class action lawsuit has been filed against James Hardie Industries plc (JHX) for securities fraud, following a significant decline in sales and misleading statements made by the company during the class period [1][4]. Summary by Sections Lawsuit Announcement - The Law Offices of Frank R. Cruz announced a class action lawsuit on behalf of shareholders who purchased James Hardie common stock between May 20, 2025, and August 18, 2025. Shareholders have until December 23, 2025, to file a lead plaintiff motion [1]. Company Performance - On August 19, 2025, James Hardie reported a 12% decline in sales in its North America Fiber Cement segment due to customer destocking, which was known to the company since April. This decline is expected to impact sales for at least the next two quarters [3]. Stock Price Impact - Following the sales disclosure, James Hardie's stock price dropped by $9.79, or 34.4%, closing at $18.64 per share on August 20, 2025, resulting in significant losses for investors [3]. Allegations in the Lawsuit - The lawsuit alleges that the defendants made materially false and misleading statements and failed to disclose adverse facts about the company's business. Specifically, it claims that sales were inflated due to inventory loading by channel partners rather than genuine customer demand, rendering the company's positive statements misleading [4].