CAE - CAE Inc. Falls Over 13% at Open on Impairment Charges BFA Law Encourages Investors to Contact the Firm About its Investigation | Benzinga
NEW YORK, May 23, 2024 (GLOBE NEWSWIRE) -- Top securities law firm Bleichmar Fonti & Auld LLP announces an investigation into CAE, Inc. (NYSE:CAE) for potential violations of the federal securities laws. If you invested in CAE, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases/cae-inc-investigation or contacting us below.
Why Did CAE Drop 13%?
On May 21, 2024, CAE announced preliminary earnings for Q4 2024 and that it initiated a "re-baselining" of its defense business because of eight underperforming legacy, fixed-price contracts. CAE further reported that it recorded a $568.0 million non-cash impairment of defense goodwill, $90.3 million in unfavourable defense contract profit adjustments, and a $35.7 ...