The Superior Court of Québec authorizes a securities class action against Bombardier Inc. and its former CEO and CFO

September 19, 2024 08:00 PM AEST | By Cision

The Superior Court of Québec authorizes a securities class action against Bombardier Inc. and its former CEO and CFO — Image source: Kalkine Media

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MONTRÉAL, Sept. 19, 2024 /PRNewswire/ -- The law firm FAGUY & CO. BARRISTERS AND SOLICITORS INC. announces that, on May 24^th, 2024, the Superior Court of Québec authorized a securities class action to proceed against Bombardier Inc. and its former CEO and CFO, Alain Bellemare and John Di Bert, in Court File No. 500-06-000977-195. The merits of the claims in the class action, or the allegations of fact on which the claims are based, have not been proven or determined by the Court. The defendants dispute the claims asserted against them and deny any allegation of wrongdoing made by the plaintiff in the class action.

The class action is brought on behalf of all persons and entities who acquired or purchased Bombardier's securities during the period spanning from August 2, 2018 to November 8, 2018, inclusively, and held all or some of these securities until November 8, 2018. You are a member of the class action if you meet this description.

The class action asserts that Bombardier released documents containing false and misleading information relating to its 2018 free cash flow guidance. It is alleged that when the misrepresentations and omissions of fact were publicly corrected, Bombardier's securities dropped significantly in value causing the class members damages.

Details on the authorization of the class action, including the process for class members to opt-out of the class action, no later than October 31, 2024, are available at: www.faguyco.com/bombardier-notice.

The judgment of the Superior Court of Québec, and information about the class action in English and French, are available on class counsel's website at: https://www.faguyco.com/class-actions/bombardier.

Information on the class action can also be found on the website of the Québec Registry of class actions at: https://www.registredesactionscollectives.quebec/en.

For any inquiries, please contact class counsel acting on behalf of the representative plaintiff and the class members:

FAGUY & CO. BARRISTERS AND SOLICITORS INC.,
329 de la Commune Street West, suite 200,
Montréal (Québec) H2Y 2E1
Tel: 514.285.8100 ext. 225
Fax: 514.285.8050,
[email protected]

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