CAE - CAE INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Announces that CAE Inc. Investors with Substantial Losses Have Opportunity to Lead the CAE Class Action Lawsuit | Benzinga
SAN DIEGO, July 16, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of CAE Inc. (NYSE:CAE) stock on an exchange in the United States between February 11, 2022 and May 21, 2024, inclusive (the "Class Period"), have until September 16, 2024 to seek appointment as lead plaintiff of the CAE class action lawsuit. Captioned Gamache v. CAE Inc., No. 24-cv-05360 (S.D.N.Y.), the CAE class action lawsuit charges CAE and certain of CAE's top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the CAE class action lawsuit, please provide your information here:
https://www.rgrdlaw.com/cases-cae-inc-class-acton-lawsuit-cae.html
You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the CAE class action lawsuit must be filed with the court no later than September 16, 2024.
CASE ALLEGATIONS: CAE is a technology company that offers software-based simulation training and critical operations support solutions.
The CAE class action lawsuit alleges that defendants throughout the Class Period made 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.
The CAE class action lawsuit further alleges that on August 10, 2022, CAE announced it had incurred "$28.9 million in unfavourable contract profit adjustments in Defense, involving two programs in the ...