Fibre cement maker James Hardie faces second Australia class action over financial forecasts (updated)
UPDATE 1-Fibre cement maker James Hardie faces second Australia class action over financial forecasts Rewrites paragraphs 1-2, adds details from paragraph 3
Aug 14 (Reuters) - James Hardie Industries JHX.AX said on Friday it would defend itself against a second shareholder class action lawsuit, alleging the fibre cement maker had breached Australian law related to financial forecasts made last year.
The class action was brought on behalf of investors who purchased securities between May 21 and August 19, 2025, the Dublin-based company said, and follows a similar class action filed by a separate set of shareholders in June.
Friday's shareholder class action alleges that the company breached certain provisions under Australia's corporate, regulatory and consumer laws.
In May 2025, James Hardie said it expected low single-digit growth in total adjusted operating earnings in 2026.
The company said it is in compliance with its disclosure obligations and will defend itself. It did not provide further details on the allegations related to the forecast.
Last week, James Hardie raised its annual earnings forecast, citing benefits from its AZEK acquisition, manufacturing efficiencies and demand in its legacy fiber cement business. Its Australia-listed shares closed at a near one-year high after the upgrade.
(Reporting by Sherin Sunny in Bengaluru; Editing by Mrigank Dhaniwala and Sonia Cheema)
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