Investigations
CAE, Inc.
Overview
Overview
- Deadline:
- Upcoming
| Company Name: | Company Name: CAE, Inc. |
| Stock Symbol: | Stock Symbol: CAE |
Bleichmar Fonti & Auld is investigating whether CAE, Inc. violated the federal securities laws. Investors are encouraged to submit their information to learn more about their legal rights.
Why is CAE, Inc. Being Investigated?
CAE, Inc. is a Canadian manufacturer of simulation technologies, modelling technologies and training services to airlines, aircraft manufacturers, healthcare specialists, and defense customers. On May 21, 2024, after market, CAE announced its preliminary earnings for Q4 2024. In pertinent part, CAE “announced a re-baselining of its Defense business along with Defense impairments and unfavourable contract adjustments related to eight previously identified fixed-price legacy contracts (the Legacy Contracts).”
More specifically, for the fourth quarter of CAE’s fiscal 2024 year, CAE recorded “a $568.0 million non-cash impairment of Defense goodwill and $90.3 million in unfavourable Defense contract profit adjustments as a result of accelerated risk recognition on the Legacy Contracts. [CAE] also recorded a $35.7 million impairment of related technology and other non-financial assets which are principally related to the Legacy Contracts.”
Additionally, CAE announced that “[b]ecause our Defense performance has fallen well short of our expectations, we have taken measures to re-baseline the business, including a leadership reorganization and further targeted operational changes at the segment and corporate executive management levels.”
Given these announcements, BFA is investigating whether CAE and certain of its senior officers made materially false and misleading statements to investors relating to the Legacy Contracts and/or the company’s Defense business.
CAE, Inc.’s Stock Plummets
As a result of CAE, Inc.’s announcement on May 21, 2024, CAE’s stock price declined over 13% at open on May 22, 2024.
What Can You Do?
If you lost money from investing in CAE, Inc. you may have legal rights. You are encouraged to submit your information to learn more.
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.
Attorney advertising. Past results do not guarantee future outcomes.
Why is CAE, Inc. Being Investigated?
CAE, Inc. is a Canadian manufacturer of simulation technologies, modelling technologies and training services to airlines, aircraft manufacturers, healthcare specialists, and defense customers. On May 21, 2024, after market, CAE announced its preliminary earnings for Q4 2024. In pertinent part, CAE “announced a re-baselining of its Defense business along with Defense impairments and unfavourable contract adjustments related to eight previously identified fixed-price legacy contracts (the Legacy Contracts).”
More specifically, for the fourth quarter of CAE’s fiscal 2024 year, CAE recorded “a $568.0 million non-cash impairment of Defense goodwill and $90.3 million in unfavourable Defense contract profit adjustments as a result of accelerated risk recognition on the Legacy Contracts. [CAE] also recorded a $35.7 million impairment of related technology and other non-financial assets which are principally related to the Legacy Contracts.”
Additionally, CAE announced that “[b]ecause our Defense performance has fallen well short of our expectations, we have taken measures to re-baseline the business, including a leadership reorganization and further targeted operational changes at the segment and corporate executive management levels.”
Given these announcements, BFA is investigating whether CAE and certain of its senior officers made materially false and misleading statements to investors relating to the Legacy Contracts and/or the company’s Defense business.
CAE, Inc.’s Stock Plummets
As a result of CAE, Inc.’s announcement on May 21, 2024, CAE’s stock price declined over 13% at open on May 22, 2024.
What Can You Do?
If you lost money from investing in CAE, Inc. you may have legal rights. You are encouraged to submit your information to learn more.
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.
Attorney advertising. Past results do not guarantee future outcomes.