Security Investigation
CAE, Inc. (NYSE: CAE)
8 Days left to seek lead plaintiff status.
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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until September 16, 2024 to file lead plaintiff applications in a securities class action lawsuit against CAE, Inc. (NYSE: CAE).
CAE and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 21, 2024, the Company disclosed a “re-baselining of its Defense business, Defense impairments, accelerated risk recognition on Legacy Contracts and appointment of Nick Leontidis as COO,” as well as “a $568.0 million non-cash impairment of Defense goodwill,” “$90.3 million in unfavorable Defense contract profit adjustments as a result of accelerated risk recognition on the Legacy Contracts,” and a “$35.7 million impairment of related technology and other non-financial assets which are principally related to the Legacy Contracts.”
On this news, the price of CAE’s shares fell over 5%, from $19.83 per share on May 21, 2024, to $18.80 per share on May 22, 2024.
If you purchased shares of CAE and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or fill out the form on this page.
The case is Norbert Gamache v. CAE Inc., et al., 24-cv-05360.