Between August 10, 2022 and May 21, 2024 inclusive, CAE Inc. and its officers, Marc Parent and Sonya Branco (the “Defendants”), published documents that contain misrepresentations and omit to disclose material facts relating to, among other things, eight firm-fixed-priced defense contracts that had a disproportionate impact on the overall profitability of the company’s "defense and security" business segment.
The effect of Defendants’ misconduct was to artificially inflate the value of CAE Inc.’s securities. As a result, members of the proposed class acquired CAE Inc.’s securities at artificially inflated prices that did not reflect their true value.
When the truth emerged after market close on May 21, 2024, the value of CAE Inc.’s securities plummeted, resulting in a loss to the members of the proposed class.
The proposed class action seeks to obtain a judgment ordering the Defendants to pay damages to each member of the proposed class.
You are a member of the proposed class action if you acquired one or more securities of CAE Inc. between August 10, 2022 and May 21, 2024 inclusive, and still held all or some of those securities at market open on May 22, 2024.
On June 10, 2024, an Application for Authorization to Institute a Class Action and for Authorization to Bring an Action for Damages under article 225.4 of the Securities Act, CQLR c V-1.1 was filed before the Superior Court of Québec.
The class action is currently at the authorization stage.
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