James Hardie(US:JHX) TMX Newsfile·2025-12-22 12:18Core 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, 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, 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, indicating fraudulent channel stuffing rather than genuine customer demand [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, which was first noted in April and May [6]. - Following this announcement, the stock price fell by $9.79 per share, a decline of over 34%, from $28.43 to $18.64 per share [6]. Group 5: Executive Changes - On November 17, 2025, it was announced that Rachel Wilson would step down from her role as CFO of James Hardie [7].