Faruqi & Faruqi, LLP Investigates Claims on Behalf of CAE Investors

Faruqi & Faruqi, LLP securities litigation partner James (Josh) Wilson encourages those who suffer losses exceeding $ 100,000 Contact him directly at CAE to discuss their options

If you suffer a loss exceeding $ 100,000 Between CAE February 11, 2022 and May 21, 2024 and wish to discuss your legal rights, please call Faruqi & Faruqi Partners Josh Wilson directly exist 877-247-4292 or 212-983-9330 (Ext. 1310)You can also click here for more information: www.faruqilaw.com/CAE.

New York, July 18, 2024 /PRNewswire/ — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating the Canadian Institute of Engineering) and remind investors September 16, 2024 deadline Seeking the role of lead plaintiff in a federal securities class action lawsuit filed against the company.

Faruqi & Faruqi is a leading national securities law firm with New York, Pennsylvania, California and GeorgiaSince its founding in 1995, the firm has recovered hundreds of millions of dollars for investors. www.faruqilaw.com.

As described below, complaints Allegations The Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) CAE had incurred significant overruns on several pre-COVID-19 fixed-price defense contracts due to supply chain and labor issues—as the division was severely impacted by the pandemic—which eroded the division’s profits and operating margins; and (2) CAE had been unsuccessful in reducing hard costs and achieving sufficient operating efficiencies, particularly with respect to these contracts, resulting in the need to restructure its defense business and incur significant related charges.

exist August 10, 2022the company announced $28.9 million CAE shares fell on the news of unfavorable contract profit adjustments on two fixed-price contracts. $4.32 Earnings per share may exceed 16% USD 25.80 Per Share August 9, 2022arrive $21.48 Per Share August 10, 2022.

exist November 14, 2023CAE said certain legacy contracts continued to be plagued by cost overruns. CAE revealed that in the defense sector, the company plans to “terminate legacy contracts most affected by inflationary pressures.” CAE shares fell on the news $0.85 Earnings per share may be close to 4%, $21.92 Per Share November 13, 2023arrive $21.07 Per Share November 14, 2023.

Three months later, February 14, 2024CAE announced that it was “seeking to further accelerate repayment of outstanding program risk primarily related to certain legacy defense contracts we entered into prior to the COVID-19 pandemic, which have been most impacted by economic headwinds.” CAE shares fell on the news $2.01 Earnings per share may be close to 10% $20.92 Per Share February 13, 2024arrive $18.91 Per Share February 14, 2024.

Finally, after the transaction is completed May 21, 2024CAE announced “re-determination of its defense business, defense impairments, and accelerated risk identification of legacy contracts.” The company said, “CAE has recorded $568 million Non-cash impairment of defense goodwill,”$90.3 million Unfavorable defense contract profit adjustment due to accelerated risk identification on legacy contracts,” and “$35.7 million Impairments on related technology and other non-financial assets primarily related to legacy contracts.”

CAE shares fell on the news $1.03 Earnings per share may exceed 5% $19.83 Per Share May 21, 2024arrive USD 18.80 Per Share May 22, 2024.

The Court-appointed Lead Plaintiff is the investor with the largest financial interest in the relief sought by the class and who is qualified to direct and supervise the litigation on behalf of the putative class. Any member of the putative class may petition the Court through counsel of their choice to serve as Lead Plaintiff, or may choose to do nothing and remain an absent class member. Whether or not you decide to serve as Lead Plaintiff will not affect your ability to share in any recovery.

Faruqi & Faruqi, LLP also encourages anyone with information about CAE’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about Canadian Institute of Engineering Class action lawsuits, please visit www.faruqilaw.com/CAE or call Farooqi & Farooqi Partners Josh Wilson directly exist 877-247-4292 or 212-983-9330 (Ext. 1310).

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