NEW YORK, May 23, 2024 (GLOBE NEWSWIRE) -- Top securities law firm Bleichmar Fonti & Auld LLP announces an investigation into CAE, Inc. (NYSE: CAE) for potential violations of the federal securities laws. If you invested in CAE, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases/cae-inc-investigation or contacting us below.
Why Did CAE Drop 13%?
On May 21, 2024, CAE announced preliminary earnings for Q4 2024 and that it initiated a “re-baselining” of its defense business because of eight underperforming legacy, fixed-price contracts. CAE further reported that it recorded a $568.0 million non-cash impairment of defense goodwill, $90.3 million in unfavourable defense contract profit adjustments, and a $35.7 million impairment of related technology and other non-financial assets that are principally related to the legacy contracts.
As a result, CAE’s stock price declined over 13% at open on May 22, 2024. BFA is investigating whether CAE and certain of its executives made materially false and/or misleading statements to investors related to the legacy contracts and/or its defense business.
Click here https://www.bfalaw.com/cases/cae-inc-investigation for more details.
What Can You Do?
If you invested in CAE, Inc. you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
To speak with an attorney for more information visit:
https://www.bfalaw.com/cases/cae-inc-investigation
Or contact us at:
Ross Shikowitz
ross@bfalaw.com
212-789-3619
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder derivative 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.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
https://www.bfalaw.com/cases/cae-inc-investigation
Attorney advertising. Past results do not guarantee future outcomes.
