CAE - CAE DEADLINE NOTICE: BFA Law has Filed a Securities Fraud Lawsuit Against CAE Inc. (NYSE:CAE) and Encourages Shareholders that Incurred a Loss to Contact the Firm | Benzinga

NEW YORK, July 18, 2024 (GLOBE NEWSWIRE) -- Bleichmar Fonti & Auld LLP ("BFA") announces that it has filed a class action lawsuit for violations of the federal securities laws against CAE Inc. ("CAE" or the "Company") (NYSE:CAE) and certain of the Company's senior executives.

If you suffered a loss on your CAE investment, please submit your information at https://www.bfalaw.com/cases/cae-inc-investigation.

The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in CAE who purchased or acquired CAE stock on an exchange in the United States between February 11, 2022 and May 21, 2024 inclusive (the "Class Period"). The case is pending in the U.S. District Court for the Southern District of New York and is captioned Norbert Gamache v. CAE Inc., et al., No. 1:24-cv-05360. A copy of the lawsuit can be found here: https://www.bfalaw.com/siteFiles/Cases/CAEComplaint.pdf.

What is the Lawsuit About?

The complaint alleges that, throughout the Class Period, defendants made materially false and misleading statements concerning significant cost overruns in CAE's Defense and Security ("Defense") segment caused by several fixed-price, long-term Defense contracts entered prior to the COVID-19 pandemic. In truth, certain of CAE's pre-COVID fixed-price Defense contracts had experienced such significant cost overruns that the Company needed to take over $720 million in charges and profit adjustments and "re-baselin[e]" its entire Defense business.

On August 10, 2022, ...

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