Bombardier announces that it intends to vigorously defend itself after the Superior Court of Québec authorized the institution of a previously disclosed securities class action for persons who purchased securities from August 2, 2018 to November 8, 2018

Montreal. 27  May 2024. Bombardier Inc. announced that it intends to vigorously defend itself in a class action, which the Superior Court of Québec has authorized Plaintiff Denis Gauthier to institute for damages against it under the Québec Securities Act (the “Authorization Decision”). Bombardier and the individual defendants deny any wrongdoing.

The Court has not yet heard or ruled on the merits of the allegations underpinning this class action and Bombardier is currently reviewing the Authorization Decision and is assessing its options, including the possibility of filing an appeal.

As previously disclosed, in February 2019, Plaintiff sought authorization to file a class action before the Superior Court of Québec against Bombardier and certain of its former officers, Messrs. Alain Bellemare and John Di Bert, alleging that Bombardier and the individual defendants made false and misleading representations, including failure to make timely disclosure of material facts concerning its guidance for 2018.

The Plaintiff has been authorized to begin a class action against the defendants on behalf of “all persons and entities who acquired or purchased Bombardier’s securities 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.”