You are wrong here. If you are the person in the company who is the professional expert on the subject and your advice is wrong, it is you who can be personally sued. If your advice is correct and the management over-rule it, then the management can be sued.
Of course what actually happens depends upon the type of loss. If the loss is a simple monetary one, then the company can be held to be vicariously liable and are likely to be sued as well, because they are the ones with the (insurance) money. But if the loss is of a life, then it is the individual engineer who is the one in the dock on the manslaughter charge.
If you want, I am sure that I can find you some examples.
tim