The law firm of Kirby McInerney LLP is investigating potential claims against CAE, Inc. (“CAE” or the “Company”) (NYSE: CAE). The investigation concerns whether CAE and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
[Click here to learn more about the investigation]
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 unfavorable 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. On this news, the price of CAE shares declined by $1.03 per share, from $19.83 per share on May 21, 2024 to close at $18.80 on May 22, 2024.
If you purchased or otherwise acquired CAE securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this CONTACT FORM, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.
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