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Maurice Blackburn is conducting a shareholder class action against James Hardie Industries plc (James Hardie) in relation to a major share price decline over the course of two trading days on 20 and 21 August 2025, following the release of its Q1 FY26 results and updated FY26 guidance.
You may register your interest for the James Hardie Class Action if you acquired an interest in James Hardie shares (ASX: JHX) between 21 May 2025 and 19 August 2025 (inclusive).
Register your interest for the James Hardie Class Action
What is the James Hardie Class Action about?
On 21 May 2025, James Hardie reported FY25 results and issued FY26 guidance forecasting organic sales and EBITDA growth across all regions.
However, on 20 August 2025, James Hardie released weaker-than-expected Q1 FY26 results and significantly downgraded full-year guidance. As compared to the first quarter of FY25, the results disclosed that:
- net sales were down 9%
- adjusted EBITDA was down 21%
- adjusted net income was down 29%; and
- adjusted earnings per share (EPS) was down 28%.
James Hardie attributed the poor results to a range of factors, including customer ‘destocking’, channel inventory management, and soft market demand, particularly in its North American Fiber Cement segment.
Following this announcement, the James Hardie share price fell over 34% in two days (from $44.34 to $28.98), and financial analysts significantly cut their price targets.
The class action alleges that James Hardie engaged in misleading or deceptive conduct and/or breached its continuous disclosure obligations by failing to disclose material issues affecting its North American Fiber Cement segment in contravention of the Corporations Act 2001 (Cth) and the ASX Listing Rules, and in doing so failed, before 20 August 2025, to:
- correct market consensus regarding James Hardie’s expected Q1 FY26 results; and
- withdraw or correct James Hardie’s FY26 guidance.
Contact the team
Frequently Asked Questions about the James Hardie Class Action
You are encouraged to register for this class action if you acquired an interest in James Hardie shares (ASX: JHX) between 21 May 2025 and 19 August 2025 (inclusive).
You are not required to register at this stage, but we encourage you to register your interest as soon as possible. By registering now, you will receive important updates about the case and be notified if you need to take any steps to claim compensation. Registration ensures you do not miss critical information.
To register your interest, please provide your contact details in the form above.
If you are unsure as to whether you are eligible to register for this class action, please email us at jameshardie@mauriceblackburn.com.au.
No. You will never be asked to pay anything out of your own pocket by participating in the class action.
Costs will only be payable if:
- the case is resolved by settlement (meaning the defendant agrees to pay compensation without a trial); or
- the case succeeds at trial and a judgment is obtained in favour of the group.
Any legal costs payable to Maurice Blackburn will be deducted from the amount of compensation recovered for the group members through any successful settlement or judgment.
Court approval is required before any payments are made to Maurice Blackburn from any settlement or judgment amount.
Class actions usually take between 2-4 years to be resolved, although this is dependent on many factors during the legal process, including how the defendant responds to the case.
Confidentiality and privacy are very important to us. You can access our Privacy Policy here.
If you still have questions, please email Maurice Blackburn at jameshardie@mauriceblackburn.com.au or call us on 02 8520 5278.
You may contact Maurice Blackburn for more information at no out-of-pocket cost.
Australian leaders in class actions.
Our reputation for excellence in class actions is unparalleled, having recovered more than $5 billion for clients.
We are the only Australian class actions firm to deliver $100m+ settlements to clients in shareholder and listed securities actions, which we have done on ten occasions.
Lower cost to clients
Biggest recoveries
Most experienced
Australian leaders in class actions.
Our reputation for excellence in class actions is unparalleled, having recovered more than $5 billion for clients.
We're the only Australian class actions firm to deliver $100m+ settlements in multiple shareholder and listed securities actions, which we have done on 11 occasions.
Lower cost to clients
Biggest recoveries
Most experienced
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