James Hardie(US:JHX) Globenewswire·2025-11-13 13:36Core Viewpoint - A class action lawsuit has been filed against James Hardie Industries plc and certain senior executives for securities fraud following a significant stock drop due to potential violations of federal securities laws [1][3]. Company Overview - James Hardie Industries is a producer and marketer of high-performance fiber cement building solutions, primarily used in external siding for the residential building industry in the United States and Canada [4]. Allegations and Financial Performance - The lawsuit claims that James Hardie misrepresented the strength and momentum of its North American fiber cement segment, asserting that sales were driven by sustainable customer demand rather than inventory loading by channel partners, which is indicative of fraudulent channel stuffing [5]. - On August 19, 2025, James Hardie disclosed a 12% decline in North American fiber cement sales for the quarter, attributed to destocking efforts by customers, which was first identified in April and May [6]. Stock Market Reaction - Following the revelation of declining sales, James Hardie's stock price plummeted by $9.79 per share, a decrease of over 34%, from $28.43 on August 19, 2025, to $18.64 on August 20, 2025 [6].