Québec Superior Court Authorizes Class Action Against Bombardier Under the Québec Securities Act

MONTRÉAL, June 4, 2024 /CNW/ - The Superior Court of Québec has granted authorization to pursue a shareholder class action on behalf of all persons and entities who acquired or purchased securities issued by Bombardier Inc. ("Bombardier") 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 inclusively (the "Class Period"), under Title VIII, Chapter II, Division I and II of the Québec Securities Act ("QSA").

Authorization under the QSA has been granted against Bombardier, its former President and Chief Executive Officer, Alain Bellemare and its former Senior Vice President and Chief Financial Officer John Di Bert. The action is based on allegations that Bombardier's made materially false or misleading statements during the Class period. A copy of the Court's judgment (in French only) is available [here]. The Defendants dispute the claims asserted.

A notice detailing the impact of the authorization of the action as a class proceeding on the rights of individual investors will be delivered at a later date in accordance with a further order of the Court.

The Class Action Plaintiffs are represented by Faguy & Co Barristers and Solicitors Inc.

SOURCE Concilia Services Inc.