Not just directors in the firing line, James Hardie decision

The High Court has left no doubt that the directors of the building group James Hardie Industries breached their duties by approving the company's release of a misleading statement to the stock exchange. Nor is it just directors in the firing line. C-suite executives actively involved in decision-making carry the same level of risk and personal liability as directors - the Court also held that the company secretary and general counsel breached his duties. The decision makes it very clear that the degree to which an individual participates in the decision-making rather than the title an individual holds determines whether or not they have the same duties as directors ... READ MORE

Released by CSA News Update - 9 May 2012