On June 10, 2024, a class action was brought against CAE Inc. and its executives.
Plaintiff alleges that CAE Inc. and its executives breached 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, between August 10, 2022 and May 21, 2024, 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.
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