James Hardie(US:JHX) Globenewswire·2025-11-29 11:32Core 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 plc 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 of Fraud - The lawsuit claims that James Hardie misled investors by stating that its North American fiber cement segment showed "inherent strength" and "underlying momentum," while in reality, sales were driven by inventory loading rather than sustainable customer demand [5]. Stock Performance and Impact - On August 19, 2025, James Hardie reported a 12% decline in North American fiber cement sales, attributed to destocking efforts by customers. Following this announcement, the stock price plummeted by $9.79, or over 34%, from $28.43 to $18.64 per share [6]. Management Changes - On November 17, 2025, it was announced that Rachel Wilson would step down from her position as CFO of James Hardie [7].