Bombardier to “vigorously defend itself” against class action suit

Bombardier has said it will “vigorously defend itself” against a class action lawsuit announced by the Superior Court of Québec. Plaintiff Denis Gauthier has been allowed by the court to “institute for damages against Bombardier under the Québec Securities Act”. Bombardier and the individual defendants deny any wrongdoing. In February 2019, the plaintiff ""sought authorisation to file a class action before the Superior Court of Quebec 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 authorised 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."" A statement from Bombardier says; ""The court has not yet heard or ruled on the merits of the allegations underpinning this class action and Bombardier is currently reviewing the authorisation decision and is assessing its options, including the possibility of filing an appeal.""