{"id":521767,"date":"2021-08-03T01:58:06","date_gmt":"2021-08-03T05:58:06","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/james-hardie-industries-settles-new-zealand-weathertightness-case\/"},"modified":"2021-08-03T01:58:06","modified_gmt":"2021-08-03T05:58:06","slug":"james-hardie-industries-settles-new-zealand-weathertightness-case","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/james-hardie-industries-settles-new-zealand-weathertightness-case\/","title":{"rendered":"James Hardie Industries Settles New Zealand Weathertightness Case"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwlistdisc { list-style-type: disc }\n.bwpadl0 { padding-left: 0px }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwvertalignb { vertical-align: bottom }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>James Hardie Industries Settles New Zealand Weathertightness Case<\/b><\/p>\n<p class=\"bwalignc\"><b>James Hardie Will Receive NZ$1.25 Million Settlement Payment <\/b><\/p>\n<p>SYDNEY &amp; CHICAGO&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;James Hardie Industries plc (ASX: JHX; NYSE: JHX), the world\u2019s #1 producer and marketer of high-performance fiber cement and fiber gypsum building solutions, is pleased to announce that the weathertightness class action litigation brought against James Hardie before the Auckland High Court has been settled (Case No. CIV-2015-404-2981, previously described by James Hardie as the \u201cWhite litigation\u201d). As part of the settlement James Hardie will receive a payment of NZ$1.25 million.\n<\/p>\n<p>\nJohn Arneil, Country Manager ANZ, said, \u201cWhile we are happy with this outcome, and believe the settlement supports our continued belief that the allegations lacked merit and we behaved as a responsible manufacturer, we remain very sympathetic to homeowners negatively impacted by weathertightness issues.\u201d\n<\/p>\n<p>\nThe terms of the settlement are not confidential. The key settlement terms include:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nHarbour Litigation Funding will pay James Hardie NZ$1.25 million.\n<\/li>\n<li>\nThere is no admission of liability by any party.\n<\/li>\n<li>\nThere is a full and final settlement of all claims arising directly or indirectly out of the White litigation in relation to the Harditex\u2122 cladding product. The case will be discontinued in its entirety.\n<\/li>\n<\/ul>\n<p>\nThe White litigation trial commenced on 17 May 2021 and was settled mid-way through a 17-week trial in the Auckland High Court. At the time of settlement, the plaintiffs\u2019 evidence was largely completed, and James Hardie had yet to finish delivering its opening submissions or call any witnesses. The claim, filed in late 2015, was managed by Adina Thorn Lawyers and fully funded by Harbour Litigation Funding, one of the world\u2019s largest litigation funders.\n<\/p>\n<p>\nAs described in our 31 March 2021 Annual Report on Form 20-F, the White litigation was one of three New Zealand weathertightness cases pending prior to this settlement. With the White litigation settled, the Company has two remaining New Zealand Weathertightness claims outstanding: the \u201cCridge litigation\u201d and the \u201cWaitakere litigation\u201d. Additional information about these claims can be found in our 31 March 2021 Annual Report on Form 20-F. Regarding the Cridge litigation, the Company expects a ruling from the Wellington High Court during the month of August 2021. The Waitakere litigation is scheduled to commence in May 2023 in the Auckland High Court. The Company believes it has substantial factual and legal defenses to these claims and is defending the claims vigorously.\n<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Forward-Looking Statements<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\nThis Media Release contains forward-looking statements and information that are necessarily subject to risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of James Hardie to be materially different from those expressed or implied in this release, including, among others, the risks and uncertainties set forth in Section 3 \u201cRisk Factors\u201d in James Hardie\u2019s Annual Report on Form 20-F for the year ended 31 March 2021; changes in general economic, political, governmental and business conditions globally and in the countries in which James Hardie does business; changes in interest rates; changes in inflation rates; changes in exchange rates; the level of construction generally; changes in cement demand and prices; changes in raw material and energy prices; changes in business strategy and various other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. James Hardie assumes no obligation to update or correct the information contained in this Media Release except as required by law.\n<\/p>\n<p>\nThis media release has been authorized by Mr. Jason Miele, Chief Financial Offer.\n<\/p>\n<p>\nJames Hardie Industries plc is a limited liability company incorporated in Ireland with its registered office at Europa House, 2nd Floor, Harcourt Centre, Harcourt Street, Dublin 2, D02 WR20, Ireland\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210802005860r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210802005860\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210802005860\/en\/<\/a><\/span><\/p>\n<p><b>Investor\/Media\/Analyst Enquiries:<br \/>\n<\/b><br \/>James Brennan-Chong<br \/>\n<br \/>Director of Investor Relations and Market Intelligence<br \/>\n<br \/><b>Telephone: <\/b>+61 2 9638 9205<br \/>\n<br \/><b>Email: <\/b><a rel=\"nofollow\" href=\"mailto:media@jameshardie.com.au\">media@jameshardie.com.au<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Ireland Australia\/Oceania United States New Zealand North America Australia Europe Illinois<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Construction &amp; Property Legal Professional Services Building Systems<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>James Hardie Industries Settles New Zealand Weathertightness Case James Hardie Will Receive NZ$1.25 Million Settlement Payment SYDNEY &amp; CHICAGO&#8211;(BUSINESS WIRE)&#8211;James Hardie Industries plc (ASX: JHX; NYSE: JHX), the world\u2019s #1 producer and marketer of high-performance fiber cement and fiber gypsum building solutions, is pleased to announce that the weathertightness class action litigation brought against James Hardie before the Auckland High Court has been settled (Case No. CIV-2015-404-2981, previously described by James Hardie as the \u201cWhite litigation\u201d). As part of the settlement James Hardie will receive a payment of NZ$1.25 million. John Arneil, Country Manager ANZ, said, \u201cWhile we are happy with this outcome, and believe the settlement supports our continued belief that the allegations lacked merit and we behaved as &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/james-hardie-industries-settles-new-zealand-weathertightness-case\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;James Hardie Industries Settles New Zealand Weathertightness Case&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-521767","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>James Hardie Industries Settles New Zealand Weathertightness Case - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/james-hardie-industries-settles-new-zealand-weathertightness-case\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"James Hardie Industries Settles New Zealand Weathertightness Case - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"James Hardie Industries Settles New Zealand Weathertightness Case James Hardie Will Receive NZ$1.25 Million Settlement Payment SYDNEY &amp; CHICAGO&#8211;(BUSINESS WIRE)&#8211;James Hardie Industries plc (ASX: JHX; NYSE: JHX), the world\u2019s #1 producer and marketer of high-performance fiber cement and fiber gypsum building solutions, is pleased to announce that the weathertightness class action litigation brought against James Hardie before the Auckland High Court has been settled (Case No. CIV-2015-404-2981, previously described by James Hardie as the \u201cWhite litigation\u201d). As part of the settlement James Hardie will receive a payment of NZ$1.25 million. John Arneil, Country Manager ANZ, said, \u201cWhile we are happy with this outcome, and believe the settlement supports our continued belief that the allegations lacked merit and we behaved as &hellip; Continue reading &quot;James Hardie Industries Settles New Zealand Weathertightness Case&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/james-hardie-industries-settles-new-zealand-weathertightness-case\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-03T05:58:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210802005860r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/james-hardie-industries-settles-new-zealand-weathertightness-case\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/james-hardie-industries-settles-new-zealand-weathertightness-case\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"James Hardie Industries Settles New Zealand Weathertightness Case\",\"datePublished\":\"2021-08-03T05:58:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/james-hardie-industries-settles-new-zealand-weathertightness-case\\\/\"},\"wordCount\":672,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/james-hardie-industries-settles-new-zealand-weathertightness-case\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20210802005860r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/james-hardie-industries-settles-new-zealand-weathertightness-case\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/james-hardie-industries-settles-new-zealand-weathertightness-case\\\/\",\"name\":\"James Hardie Industries Settles New Zealand Weathertightness Case - 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