James Hardie(US:JHX) Globenewswire·2025-12-21 11:49Core 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]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the Northern District of Illinois, titled 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 [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 - The complaint alleges that 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 stated on May 20, 2025, that it was experiencing "normal stock levels" and expected performance, which was later contradicted by actual sales data [5]. Group 4: Stock Performance - On August 19, 2025, James Hardie reported 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].