James Hardie(US:JHX) Newsfile·2025-11-24 11:08Core Viewpoint - James Hardie Industries plc (JHX) is facing a class action lawsuit for securities fraud following a significant stock drop of over 34% due to alleged violations of federal securities laws [1][3]. Group 1: Lawsuit Details - A class action lawsuit has been filed against James Hardie and certain senior executives, asserting claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [3]. - Investors have until December 23, 2025, to request to be appointed to lead the case, which is pending in the U.S. District Court for the Northern District of Illinois [3]. 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 [4]. Group 3: Stock Performance and Allegations - The company previously claimed strong performance in its North American fiber cement segment, stating it was seeing "normal stock levels" and expected performance [5]. - However, it was alleged that the sales were inflated due to inventory loading by channel partners, indicating fraudulent channel stuffing rather than genuine customer demand [5]. - On August 19, 2025, James Hardie reported a 12% decline in North American fiber cement sales, leading to a stock price drop from $28.43 to $18.64 per share, a decrease of $9.79 or over 34% [6]. Group 4: Management Changes - On November 17, 2025, it was announced that Rachel Wilson would step down from her role as CFO [7].