{"settlement":{"id":"cae-securities-class-action-2026","slug":"cae-securities-class-action-2026","title":"CAE Inc. Securities Class Action","category":"Investment and Securities","status":"Claims open","tags":{"industry":["Securities and investments"],"geographic":["Canada-wide"],"recoveryType":["Cash payment","Investment recovery"],"documentation":["Account records required","Identity verification required"],"eligibilityTrigger":["Owned a security or investment"]},"classDefinition":"All persons who purchased one or more common shares of CAE Inc. from August 10, 2022 to May 21, 2024, inclusive, and still held all or part of those shares at any time between February 14, 2024 and May 22, 2024, inclusive. Some persons and entities that are or were related or close to the Defendants are excluded.","plainLanguageSummary":"If you bought CAE Inc. common shares between August 10, 2022 and May 21, 2024 and still held some of them at any time between February 14, 2024 and May 22, 2024, you may be eligible for a cash payment from a proposed $38.25 million settlement fund, shared in proportion to the value of your claim.","eligibilityCriteria":["You bought one or more CAE Inc. common shares between August 10, 2022 and May 21, 2024, inclusive.","You still held some or all of those shares at any time between February 14, 2024 and May 22, 2024, inclusive.","You are not a person or entity that is or was related or close to CAE Inc., Marc Parent or Sonya Branco.","It does not matter where you live, or whether you bought the shares on the Toronto or New York stock exchange."],"recoveryRange":"A share of the $38.25 million settlement fund (after legal fees and administration costs), in proportion to the value of your valid claim","filingInstructions":"Gather your records first: a valid government photo ID, and trade confirmations or monthly statements showing the CAE Inc. common shares you held on August 9, 2022, every purchase and sale from August 10, 2022 to June 5, 2024, and the shares you held on June 5, 2024.\nGo to CAESecuritiesSettlement.com and complete the online claim form in one sitting; you cannot save your progress and return later.\nUpload your photo ID and supporting documents. File a separate claim for each account that held CAE shares.\nTo file by mail instead, call 1-888-808-2649 or email info@CAESecuritiesSettlement.com to request a paper claim form, then mail it to CAE Inc. Settlement, c/o Verita Global LLC, P.O. Box 3355, London, ON N6A 4K3.\nSubmit your claim no later than March 22, 2027.","caseBackground":"This class action alleges that CAE Inc., along with Marc Parent and Sonya Branco, released documents and made public statements containing misrepresentations and failed to disclose important changes in CAE’s business, relating among other things to eight fixed-price contracts in its defence and security business. The lawsuit says this artificially inflated the price of CAE’s common shares between August 10, 2022 and May 21, 2024.\n\nThe defendants agreed to pay CAD $38,250,000 to settle the case, without admitting any wrongdoing. On August 26, 2026, the Superior Court of Québec authorized the class action for settlement purposes, and a hearing to approve the settlement is scheduled for December 22, 2026. Class members can submit claims now, but no claims will be reviewed and no payments made unless the Court approves the settlement.","administratorName":"Verita Global LLC","administratorContacts":[{"type":"phone","label":"","value":"1-888-808-2649"},{"type":"email","label":"","value":"info@CAESecuritiesSettlement.com"},{"type":"online","label":"","value":"https://CAESecuritiesSettlement.com"}],"administratorRole":"claims","agentName":"","agentContacts":[],"agentClaimFormHelp":false,"classCounselName":"Scott+Scott CA ULC, Belleau Lapointe LLP","classCounselContacts":[{"type":"mail","label":"","value":"306 Place D'Youville, B-10, Montréal (Québec) H2Y 2B6"},{"type":"phone","label":"","value":"514-251-1471"},{"type":"fax","label":"","value":"212-223-6334"},{"type":"email","label":"","value":"info@scott-scott.com"},{"type":"mail","label":"","value":"300 Place d'Youville, B-10, Montréal (Québec) H2Y 2B6"},{"type":"phone","label":"","value":"514-987-6700"},{"type":"fax","label":"","value":"514-987-6886"},{"type":"email","label":"","value":"info@belleaulapointe.com"}],"classCounselFirms":[{"name":"Scott+Scott CA ULC","region":"","contacts":[{"type":"mail","label":"","value":"306 Place D'Youville, B-10, Montréal (Québec) H2Y 2B6"},{"type":"phone","label":"","value":"514-251-1471"},{"type":"fax","label":"","value":"212-223-6334"},{"type":"email","label":"","value":"info@scott-scott.com"}]},{"name":"Belleau Lapointe LLP","region":"","contacts":[{"type":"mail","label":"","value":"300 Place d'Youville, B-10, Montréal (Québec) H2Y 2B6"},{"type":"phone","label":"","value":"514-987-6700"},{"type":"fax","label":"","value":"514-987-6886"},{"type":"email","label":"","value":"info@belleaulapointe.com"}]}],"submissionMethods":[{"type":"online","label":"Online claim","value":"https://CAESecuritiesSettlement.com"},{"type":"mail","label":"Mail","value":"CAE Inc. Settlement, c/o Verita Global LLC, P.O. Box 3355, London, ON N6A 4K3"}],"sourceDocuments":[{"url":"/uploads/2328f086e551dc500601f6d3-notice_to_class_members.pdf","title":"Notice to Class Members"},{"url":"/uploads/f9b96cf3fb0e50ce8a2ecd7c-l_avis_long.pdf","title":"Avis aux membres du groupe"}],"shortFormNoticeUrl":"","longFormNoticeUrl":"/uploads/2328f086e551dc500601f6d3-notice_to_class_members.pdf","settlementAgreementUrl":"","claimFormDocumentUrl":"","claimForms":[],"claimFormsButtonLabel":"claim-form","claimFormsUnavailable":true,"claimFormsUnavailableReason":"Claims are filed online through the administrator’s claims portal. If you would rather file by mail, contact the administrator to request a paper claim form.","claimFormGuides":[],"additionalDocuments":[{"id":"237f4cd4fc09","title":"Settlement Agreeement","url":"/uploads/f33387c42e5c97096a0de537-260731-settlement_agreement-executed__1_.pdf.pdf"}],"optOutFormUrl":"/uploads/6e9ab5e21bbd5840d3ba15e4-optoutform.pdf","optOutInstructions":"Submit a request to opt out of the settlement on or before December 1, 2026. Opt-out forms and instructions are available at https://CAESecuritiesSettlement.com. If you opt out, you cannot claim compensation from this settlement but keep the option to sue the defendants on your own, at your own expense.","objectionFormUrl":"","objectionInstructions":"Write to the Claims Administrator by December 1, 2026, explaining your comments or what you dislike about the settlement, the Plan of Allocation or Class Counsel fees. You must remain a class member to object, and you may ask to speak in court about the fairness of the settlement at the approval hearing on December 22, 2026 in Montréal.","faqs":[{"answer":"Your claim and all required supporting documentation must be submitted online or by mail no later than March 22, 2027.","question":"What is the deadline to file a claim?"},{"answer":"After Class Counsel fees (which will not exceed 25% of the settlement amount, plus costs and taxes, if approved) and administration expenses, the fund is shared among valid claimants in proportion to the value of each claim. Your claim value depends on how many shares you held the day before August 10, 2022, the shares you bought or sold during the class period, and the prices. Depending on your trades, your calculated loss may be zero. Payments under $15 are not issued; that money is shared among the other eligible claimants.","question":"How much will I receive?"},{"answer":"You must provide a valid government photo ID, plus trade confirmations or monthly statements showing the CAE common shares you held on August 9, 2022, every purchase and sale from August 10, 2022 to June 5, 2024, and the shares you held on June 5, 2024. If you are filing for someone else, you must also provide proof of your authority to act for them. Questions about supporting documentation can be sent to the administrator at 1-888-808-2649 or info@CAESecuritiesSettlement.com.","question":"What proof do I need to provide?"},{"answer":"You can file your claim now, but no claims will be reviewed and no payments made unless the Court approves the settlement at the hearing on December 22, 2026 in Montréal. If it is approved, payments are expected several months later, once the claims deadline has passed and claims are processed; the whole process can take close to a year or more. Payments are made by Interac e-Transfer or cheque. Check CAESecuritiesSettlement.com for updates.","question":"When will payments be made?"},{"answer":"You can opt out (leave the settlement and keep your right to sue on your own) or object (stay in and tell the Court what you disagree with), but not both. Both deadlines are December 1, 2026; details are at CAESecuritiesSettlement.com. If you do nothing, you will receive no payment and you will give up your right to sue the defendants over the claims in this case.","question":"Can I opt out or object, and what happens if I do nothing?"},{"answer":"If the Claims Administrator rejects a complete claim you submitted by March 22, 2027, you can appeal by following the procedure in sections 43 to 46 of the Plan of Allocation, electronically or by mail, within 15 days of the date of the Decision Notice. If the appeal is accepted for review by the arbitrator, you must pay $100, which is refunded if your appeal succeeds.","question":"What can I do if my claim is rejected?"}],"eligibilityChecker":{"questions":[{"id":"purchased-cae-shares","text":"Did you buy one or more CAE Inc. common shares between August 10, 2022 and May 21, 2024?","type":"yes_no","qualifyingAnswer":"yes","criticalForEligibility":true},{"id":"held-shares-2024","text":"Did you still hold some or all of those shares at any time between February 14, 2024 and May 22, 2024?","type":"yes_no","qualifyingAnswer":"yes","criticalForEligibility":true},{"id":"related-to-defendants","text":"Are you a person or entity that is or was related or close to CAE Inc., Marc Parent or Sonya Branco?","type":"yes_no","helpText":"Certain people and entities connected to the defendants are excluded from the class.","qualifyingAnswer":"no","criticalForEligibility":true}],"uncertainMessage":"Some of your answers were Not sure, so we could not confidently determine your eligibility.","qualifyingMessage":"Based on your answers, you appear to fall within the class definition for this settlement.","nonQualifyingMessage":"Based on your answers, you do not appear to fall within the class definition for this settlement."},"claimCategories":[],"proceedings":null,"relatedSlugs":[],"group":null,"cardSummary":"If you bought CAE Inc. shares between August 2022 and May 2024 and still held some of them between February and May 2024, you may be able to claim a share of a proposed $38.25 million settlement.","proofRequired":"","claimTime":"","claimAmount":"","coverageStartDate":"2022-08-10","coverageEndDate":"2024-05-21","deadline":"2027-03-22","optOutDeadline":"2026-12-01","objectionDeadline":"2026-12-01","approvalHearingDate":"2026-12-22","approvalHearingDates":[{"date":"2026-12-22","label":""}],"approvalPending":true,"resolution":"settlement","judgmentAppealed":false,"seriousHarmEnabled":false,"quietPresentation":false,"formHelperEnabled":false,"dateAdded":"2026-10-31","lastUpdated":"2026-10-31","firstPublishedAt":"2026-11-01 02:46:38","claimsOpenedAt":"2026-11-01 02:46:38","lastVerifiedAt":"2026-10-31","languages":["en","fr"]}}