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

MONTRÉAL, May 27, 2024 (GLOBE NEWSWIRE) -- Bombardier Inc. (“Bombardier” or “Company”) 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.”

About Bombardier

At Bombardier (BBD-B.TO), we design, build, modify and maintain the world’s best-performing aircraft for the world’s most discerning people and businesses, governments and militaries. That means not simply exceeding standards, but understanding customers well enough to anticipate their unspoken needs.

For them, we are committed to pioneering the future of aviation—innovating to make flying more reliable, efficient and sustainable. And we are passionate about delivering unrivaled craftsmanship and care, giving our customers greater confidence and the elevated experience they deserve and expect. Because people who shape the world will always need the most productive and responsible ways to move through it.

Bombardier customers operate a fleet of approximately 5,000 aircraft, supported by a vast network of Bombardier team members worldwide and 10 service facilities across six countries. Bombardier’s performance-leading jets are proudly manufactured in aerostructure, assembly and completion facilities in Canada, the United States and Mexico.   

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