James Hardie(US:JHX) Prnewswire·2025-12-17 02:32Core 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 [1][3][4]. Company Overview - James Hardie Industries designs and manufactures a variety of fiber cement building products, with manufacturing facilities located in both the United States and Australia [2]. Class Action Details - The class action lawsuit, titled Laborers' District Council and Contractors' Pension Fund of Ohio v. James Hardie Industries plc, accuses the company and its executives of violating the Securities Exchange Act of 1934 [1]. - The lawsuit claims that from May 20, 2025, to August 18, 2025, the company made false statements regarding the health of its North American Fiber Cement segment, despite evidence of inventory destocking [3]. Financial Impact - On August 19, 2025, James Hardie disclosed a 12% decline in sales for its North American Fiber Cement segment due to customer destocking, leading to a more than 34% drop in the company's stock price [4]. Legal Process - Investors who purchased James Hardie common stock during the class period have until December 23, 2025, to seek appointment as lead plaintiff in the lawsuit [1][5]. - The lead plaintiff will represent the interests of all class members and can choose a law firm to litigate the case [5]. 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 [6]. - The firm has a strong track record, being ranked 1 in monetary relief for investors in securities class action cases for four out of the last five years [6].