James Hardie(US:JHX) TMX Newsfile·2025-12-16 20:33Core 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 attributed to potential violations of federal securities laws [1]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the Northern District of Illinois, captioned Laborers' District Council and Contractors' Pension Fund of Ohio v. James Hardie Industries plc, et al., No. 1:25-cv-13018 [3]. - Investors have until December 23, 2025, to request to be appointed to lead the case, with claims asserted under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [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 claimed strong performance in its North American fiber cement segment, stating it was seeing "normal stock levels" and expected performance [5]. - The lawsuit alleges that the reported sales were due to inventory loading by channel partners rather than sustainable customer demand, indicating potential fraudulent channel stuffing [5]. Group 4: Stock Performance - On August 19, 2025, James Hardie disclosed a 12% decline in North American fiber cement sales, attributed to destocking efforts by customers, leading to a stock price drop of $9.79 per share, or over 34%, from $28.43 to $18.64 [6]. Group 5: Executive Changes - On November 17, 2025, it was announced that Rachel Wilson had decided to step down from her role as CFO [7].