Shareholder class action filed over James Hardie's FY26 guidance and market disclosures
Class actions and personal injury specialist law firm Slater and Gordon has filed a class action in the Supreme Court of Victoria against James Hardie Industries plc (James Hardie) (ASX: JHX), seeking compensation for investor losses linked to the company's FY26 earnings guidance and market disclosures.
James Hardie manufactures and markets exterior home and outdoor living products and solutions across Australia, New Zealand, Europe and North America.
Slater and Gordon has commenced the proceeding in the Supreme Court of Victoria on behalf of investors who acquired James Hardie shares between 21 May 2025 and 19 August 2025 (inclusive).
Investors pay the price for poor market disclosures
James Hardie first provided its FY26 earnings guidance to the ASX on 21 May 2025. On 20 August 2025, the company announced a downgraded FY26 guidance. Following that announcement, its share price fell by approximately 34% over two trading days, wiping out billions in shareholder value.
Investors who bought James Hardie shares between 21 May 2025 and 19 August 2025 did so following the FY26 guidance, which did not properly account for the issues later revealed in the downgraded guidance on 20 August 2025.
The class action alleges that, in relation to its FY26 earnings guidance, James Hardie made misleading representations and failed to comply with its continuous disclosure obligations as an ASX‑listed company, breaching relevant provisions of the Corporations Act 2001 (Cth), the ASIC Act 2001 (Cth), and the Australian Consumer Law.
The class action alleges that James Hardie's conduct caused its share price to be higher than it would otherwise have been, meaning investors paid more for James Hardie shares than they would have if the company had complied with its obligations at law.
Investors depend on prompt and fulsome disclosures
Slater and Gordon Class Actions Practice Group Leader Kirsten Morrison said people who put their savings and superannuation into the share market rely on timely and truthful information about the companies they invest in.
"Many people rely on their share market investments for retirement income through their superannuation funds or to build wealth for the future," Ms Morrison said.
"Our disclosure laws are designed so investors receive prompt and accurate information about a company's financial and operating health, enabling them to make informed decisions about where to put their money"
"Our markets are strong and attract investor interest because there are clear rules and regulations in place that support market integrity and protect investors. When companies fail to disclose information that has a material impact on investors, it undermines confidence in our continuous disclosure regime and in the market itself."
This filing against James Hardie follows the shareholder class action Slater and Gordon announced last month against Web Travel Group Ltd.
Ms Morrison said shareholder class actions give investors an effective pathway to redress when they suffer financial loss due to alleged corporate misconduct.
"Shareholder class actions are part of Slater and Gordon's broader work in opening up access to justice for everyday people. They help to rebalance power, support fairer and more transparent markets, and give investors a way to seek redress when listed companies fail to meet their obligations to the market, and investors pay the price."
Who can join the shareholder class action
The class action is open to investors who acquired James Hardie shares listed on the ASX (ASX:JHX) through any trading platform between 21 May 2025 and 19 August 2025 (inclusive).
Slater and Gordon Lawyers is encouraging retail investors, superannuation funds and other institutional investors and fund managers who acquired shares during this period to register their interest in the proceeding via its website here
