James Hardie(US:JHX) Globenewswire·2025-12-06 05:45Core Viewpoint - The James Hardie Industries plc is facing a class action lawsuit for allegedly misleading investors about the strength of its North American Fiber Cement segment, which experienced significant inventory destocking and a subsequent decline in sales [3][4]. Group 1: Class Action Lawsuit Details - The class action lawsuit is titled "Laborers' District Council and Contractors' Pension Fund of Ohio v. James Hardie Industries plc" and is filed in the Northern District of Illinois [1]. - Investors who purchased James Hardie common stock between May 20, 2025, and August 18, 2025, can seek appointment as lead plaintiff by December 23, 2025 [1][5]. - The lawsuit alleges that James Hardie and its executives violated the Securities Exchange Act of 1934 [1]. Group 2: Allegations Against James Hardie - The lawsuit claims that James Hardie misled investors by assuring them of strong sales in the Fiber Cement segment while denying any inventory destocking, despite evidence to the contrary [3]. - On August 19, 2025, James Hardie reported a 12% decline in sales for North America Fiber Cement due to customer destocking, leading to a stock price drop of over 34% [4]. Group 3: Company Background - James Hardie is known for designing and manufacturing a variety of fiber cement building products, with production facilities in the United States and Australia [2]. - Robbins Geller Rudman & Dowd LLP, the law firm representing the plaintiffs, is recognized as a leading firm in securities fraud and shareholder litigation, having recovered over $2.5 billion for investors in 2024 alone [6].