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CAE Inc. has reached a proposed settlement with shareholders who accused the company and two former executives of misleading investors about fixed-price defence contracts. The defendants will pay $38.25 million, including up to $5 million from CAE and the remainder from insurers, while denying the allegations.
CAE Inc., headquarters is seen in Saint-Laurent, Que. , on Monday, July 20, 2026. THE CANADIAN PRESS/Christinne Muschi - The Canadian Press MONTREAL — CAE Inc. has reached a deal to settle a class-action lawsuit by shareholders against the company, its former chief executive and its former chief financial officer that will see the defendants pay $38.25 million.
Under the proposed agreement, CAE will pay up to $5 million with the remaining amount to be paid by its insurers. The lawsuit alleged the company and executives made misleading statements related to fixed-price contracts in the defence sector that inflated its share price. The defendants denied all of the allegations, however, a statement by lawyers for the plaintiffs said the two sides agreed to settle to avoid the delays and risks associated with continued litigation and trial.
The class includes investors who bought CAE shares during the period from Aug. 10, 2022, to May 21, 2024, and still held some or all of the shares at any time between Feb. 14, 2024, and May 22, 2024. This report by The Canadian Press was first published Oct. 2, 2026.
CAE Inc. Shareholder Lawsuit Class-Action Settlement Defence Contracts Misleading Statements
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CAE to pay $38.25 million to settle shareholder class action over defence contractsCAE Inc. has agreed to settle a shareholder class-action lawsuit for $38.25 million over alleged misleading statements about fixed-price defence contracts. The company will pay up to $5 million, with insurers covering the rest, pending court approval on Dec. 22.
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