The Gross Law Firm notifies investors that a class action has commenced in on behalf of shareholders of CAE Inc. who purchased Securities between February 11, 2022 and May 21, 2024.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) several of CAE’s pre-COVID fixed-price defense contracts had incurred severe cost overruns due to supply chain and labor issues – as the segment was significantly impacted by the pandemic – which dented the segment’s profit and operating margin; and (ii) CAE failed to successfully reduce hard costs and achieve a sufficient level of operational efficiency, particularly with respect to such contracts, necessitating a re-baselining of the defense business and significant associated charges.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until September 16, 2024 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
