James Hardie(US:JHX) Newsfile·2025-11-28 13:18Core 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 [1][3]. Group 1: Lawsuit Details - Investors have until December 23, 2025, to request to lead the case in the U.S. District Court for the Northern District of Illinois [3]. - The lawsuit claims violations under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in James Hardie common stock [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: Allegations of Fraud - During the relevant period, James Hardie misrepresented the strength and momentum of its North American fiber cement segment, claiming sustainable customer demand when, in fact, sales were driven by inventory loading by channel partners [5]. - The company reported a 12% decline in North American fiber cement sales during the quarter, revealing that customers were destocking to return to normal inventory levels [6]. Group 4: Stock Performance - Following the revelation of declining sales, James Hardie's stock price fell 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]. Group 5: Management Changes - On November 17, 2025, it was announced that Rachel Wilson would step down from her role as CFO of James Hardie [7].