James Hardie(US:JHX) Prnewswire·2025-11-26 10:40Core 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 the strength of its North America Fiber Cement segment during a period of inventory destocking [1][4]. Company Overview - James Hardie Industries plc designs and manufactures a variety of fiber cement building products, operating manufacturing plants in both the United States and Australia [3]. Allegations of the Lawsuit - The lawsuit claims that despite early signs of inventory destocking by customers in April and May 2025, James Hardie executives made false assurances to investors about the segment's strength and denied any inventory destocking was occurring [4]. - It is alleged that the company engaged in practices resembling fraudulent channel stuffing, misleading investors about sustainable customer demand [4]. - On August 19, 2025, James Hardie reported a 12% decline in sales for the North America Fiber Cement segment due to the previously undisclosed customer destocking, leading to a stock price drop of over 34% [5]. Legal Process - Investors who purchased James Hardie common stock during the specified class period (May 20, 2025, to August 18, 2025) have until December 23, 2025, to seek appointment as lead plaintiff in the class action lawsuit [1][6]. - The lead plaintiff will represent the interests of all class members and can select a law firm of their choice for litigation [6]. Law Firm Background - Robbins Geller Rudman & Dowd LLP is a prominent law firm specializing in securities fraud and shareholder litigation, having secured over $2.5 billion for investors in 2024 alone [7]. - The firm has a strong track record, being ranked 1 in the ISS Securities Class Action Services rankings for four out of the last five years [7].