Bombardier intends to vigorously defend itself after the Superior Court of Québec partially authorized the institution of a class action related to its Restricted Share Unit Plan
23 Julio 2024 - 7:29AM
Bombardier Inc. ("Bombardier" or the "Company") announced that it
intends to vigorously defend itself against a class action which
the Superior Court of Québec only partially authorized Plaintiff
Jérôme Gauthier to institute against it (the “Authorization
Decision”). Bombardier denies any wrongdoing.
As previously disclosed, on April 21, 2023, an
application for authorization to institute a class action was filed
before the Superior Court of Québec, in the district of Montréal,
against Bombardier and Messrs. Pierre Beaudoin, Éric Martel and
Alain Bellemare (respectively, the Chairman of the Board of
Directors, the President and Chief Executive Officer and the former
President and Chief Executive Officer of Bombardier) (the
"Application"). The Application sought authorization to represent
all persons who received restricted share units, in November 2020,
vesting in November 2023 (the "RSUs") and to claim in their name an
unspecified amount equal to the value of the RSUs that were
cancelled on a pro rated basis following the sale of its Bombardier
Transportation business segment ("BT") to Alstom S.A. ("Alstom") on
January 29, 2021.
Of the seven causes of action put forward by the
Plaintiff against Bombardier and the individual defendants, the
Superior Court only authorized two, with respect to the
interpretation of its RSU plan (the “Plan”) in relation to the
November 2020 RSU grants, and only against Bombardier. 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. Bombardier
intends to continue to vigorously defend itself at every step of
this litigation.
The Plaintiff obtained the authorisation to
represent all natural persons that meet the following four
conditions:
(1) they were employed by BT before
January 29, 2021;(2) they signed, after September 16 2020, a grant
agreement with Bombardier for RSUs, governed by the Plan;(3) they
were awarded RSUs for which the vesting date was later than January
29, 2021; and(4) their employment agreement was not terminated
before the vesting date of the RSUs.
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.
For Information
For corporate news and information, including
Bombardier’s Environmental, Social and Governance report, as well
as the company’s plans to cover all its flight operations with a
Sustainable Aviation Fuel (SAF) blend utilizing the Book and Claim
system visit bombardier.com.
Learn more about Bombardier’s industry-leading
products and customer service network at
businessaircraft.bombardier.com. Follow us on X (Twitter)
@Bombardier.
Media Resources
Francis Richer de La Flèche Vice President Financial Planning and
Investor Relations Bombardier +1 514 240 9649 |
Mark Masluch Senior Director, Communications Bombardier +1 514 855
7167 |