James Hardie(US:JHX) Newsfile·2025-11-18 20:33Core Viewpoint - A class action lawsuit has been filed against James Hardie Industries plc for securities fraud, following a significant stock drop attributed to potential violations of federal securities laws [2][4]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the Northern District of Illinois, with a deadline for investors to seek lead plaintiff status by December 23, 2025 [4]. - The complaint alleges violations under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in James Hardie common stock [4]. Group 2: Company Background - James Hardie is a producer and marketer of high-performance fiber cement building solutions, primarily used in external siding for the residential building industry in the U.S. and Canada [5]. Group 3: Allegations of Fraud - During the relevant period, James Hardie claimed strong performance in its North American fiber cement segment, asserting "inherent strength" and "underlying momentum" in its strategy [6]. - However, it is alleged that the reported sales were due to inventory loading by channel partners rather than genuine customer demand, indicating potential fraudulent practices [6]. Group 4: Stock Performance - On August 19, 2025, James Hardie disclosed a 12% decline in North American fiber cement sales, attributed to destocking efforts by customers [7]. - Following this announcement, the stock price plummeted by $9.79 per share, a decrease of over 34%, from $28.43 to $18.64 [7].