Australia's James Hardie faces another class action over earnings forecast, disclosures

Aug. 17 (Reuters) - Law firm Slater and Gordon said on Monday it had filed a class action in an Australian court against James Hardie Industries JHX.AX, seeking compensation for investor losses linked to the company's fiscal 2026 earnings forecast and market disclosures.

Here are a few details:

• Slater and Gordon, a class actions and personal injury specialist law firm, said it has started the proceedings on behalf of investors who acquired James Hardie shares between May 21 and August 19, 2025, inclusive.
• The class action alleged that the fibre cement maker made misleading representations and failed to comply with its disclosure obligations in relation to its fiscal 2026 earnings forecast issued in May and August 2025.
• James Hardie did not immediately respond to a Reuters request for comment.
• The stock plummeted nearly 35% over two days in August 2025 after the company downgraded its fiscal 2026 outlook.
• Shares of James Hardie fell nearly 2% to A$43 on Monday.
• The suit also alleges James Hardie's conduct artificially inflated its share price, causing investors to pay more for the stock than they would have had the company complied with its legal obligations.
• The company said on Friday it had been served with a class action lawsuit in Australia alleging it failed to disclose adverse conditions in its North American business before it reported quarterly results and cut annual forecast in August.
• The latest filing follows a separate class action launched in June over the company's financial performance disclosures.