CAE shareholders could get money from $38.25 million class action settlement
A proposed settlement of $38.25 million in a securities class action against CAE Inc. and two former executives is pending court approval.
The day's top stories, food & events — every morning at 7. Unsubscribe anytime.
CAE Inc. has agreed to a proposed $38.25 million settlement in a securities class action brought by shareholders. The deal, announced Oct. 2, 2026, is subject to court approval. CAE Inc. denies any wrongdoing, and the two defendants, former CEO Marc Parent and former CFO Sonya Branco, deny all allegations of unlawful conduct, liability, wrongdoing or fault.
The lawsuit, launched June 10, 2024, alleges CAE failed to share important business information, released documents and public statements containing false or misleading information, and did not disclose a significant change in its business, operations or financial situation. The class action says the alleged misconduct inflated the company's common shares between Aug. 10, 2022 and May 21, 2024, and that the share price dropped once the information came to light.
The eligible class is people who bought one or more CAE Inc. shares between Aug. 10, 2022 and May 2024 and held some or all of those shares between Feb. 14 and May 22, 2024. The court approval hearing is set for Dec. 22, 2026. Claimants must file by March 22, 2027, and submit proof of identity and additional documentation through a claims website.
The plaintiffs are represented by Scott+Scott CA ULC and Belleau Lapointe LLP.
