Class Action

The Mouvement d’éducation et de défense des actionnaires (“MÉDAC”) leads a class action against CAE Inc. (“CAE“) and its executives Mr. Marc Parent and Ms. Sonya Branco (collectively with CAE, the “Defendants“) for allegedly breaching their obligations, including under Quebec’s Securities Act and the Civil Code of Quebec, by failing to disclose material facts, publishing documents containing false and misleading information, and failing to notify the members of the proposed class of a significant change in the company’s business, operations, or capital, all related to CAE’s fixed-price contracts in the Defense sector.

As a result of Defendants’ faults, the members of the proposed class acquired CAE’s securities at artificially inflated prices that did not reflect their true value. Following the disclosure of the omitted or misrepresented facts and the significant change in the company’s business, operations, or capital, the value of CAE’s securities dropped, causing significant damage to the members of the proposed class. The proposed class action seeks a judgment condemning the Defendants to pay damages to each member of the proposed class action.

Who is a member of this class action?

You are a member of the proposed class if you acquired one or more common stocks of CAE between August 10, 2022, and May 21, 2024, inclusive, and still held all or part of these common stocks at any time between February 14, 2024, and May 22, 2024, inclusive.

What is the status of this class action?

On June 10, 2024, an Application for Authorization to Institute a Class Action was filed in the Superior court of Québec. The class action is currently at the authorization stage.

A settlement agreement was reached with Defendants. The settlement agreement will be submitted to the Superior court of Québec for approval during a hearing to be held on December 22, 2026.

How can I stay informed of the upcoming steps in the case?

If you are a member of the class action, we invite you to register to our mailing list. This way, we can communicate with you as soon as important developments occur in the file.

For more information, you can also contact Belleau Lapointe directly.