CAE Inc. $38.25 Million Securities Settlement, Who Qualifies, How to Claim, and the March 22, 2027 Deadline
Investors who bought CAE Inc. common shares during the covered period may be able to claim part of a proposed CAD $38.25 million securities settlement in Québec. The claim period is open now, and the deadline is March 22, 2027.
File your claim here: Official CAE Securities Settlement website and claim form
Claim deadline: March 22, 2027 | Opt-out deadline: December 1, 2026 | Court approval hearing: December 22, 2026
Owning CAE shares during the period does not guarantee a payment. You must file a valid claim with proof of identity and your share transactions. Claims can be filed now, but no payments will be made unless the Superior Court of Québec approves the settlement.
Quick Facts
| Detail | Information |
| Official settlement website | CAESecuritiesSettlement.com |
| Claim form | File a claim online |
| Claim deadline | March 22, 2027 |
| Claim status | Open now |
| Proposed settlement | CAD $38,250,000 |
| Who can claim | People who acquired CAE common shares Aug 10, 2022 to May 21, 2024 and held some or all of them at some point Feb 14, 2024 to May 22, 2024 |
| What you need | Proof of identity and CAE share transaction records (brokerage statements, confirmations) |
| Opt-out deadline | December 1, 2026 |
| Court approval hearing | December 22, 2026, Montréal |
| Payment | Pro rata, based on valid claims, after court-approved fees and expenses |
| Defendants | CAE Inc., former CEO Marc Parent, former CFO Sonya Branco |
| Court | Superior Court of Québec, District of Montréal |
| Court file | 500-06-001312-244 |
| Case name | Mouvement d’éducation et de défense des actionnaires v. CAE Inc., Marc Parent and Sonya Branco |
| Settlement approval | Not yet final |
Who Can Claim?
The proposed class covers people who acquired one or more CAE common shares between August 10, 2022 and May 21, 2024, inclusive, and who still held some or all of those shares at some point between February 14, 2024 and May 22, 2024, inclusive.
Both date tests matter. If you sold all your shares before February 14, 2024, you likely do not meet the holding requirement.
Investors Outside Québec
This is a Québec court case, but the class is defined by your CAE share transactions and holding history, not by where you live. U.S. and other non-Québec investors who meet the requirements should review the official settlement notice before assuming they are excluded. Not everyone who bought shares during part of the period qualifies, so the holding requirement and other settlement terms still apply.
What Did the Lawsuit Allege?
The plaintiff alleges that CAE, Marc Parent, and Sonya Branco made misleading statements and failed to disclose material information about CAE’s Defense business, particularly eight fixed-price contracts. The claim is that this caused CAE securities to trade at artificially inflated prices before disclosures caused the share price to fall.
These are allegations only. CAE, Parent, and Branco deny the allegations and liability, and no court has found them liable. The parties settled to avoid the cost, delay, and risk of continued litigation.
Related article: $79 Billion in Class Action Settlements in 2025, What the Record Means for Consumers and Corporate Risk
How Much Is the Settlement Worth?
The proposed settlement is CAD $38,250,000, a gross amount. CAE will pay up to CAD $5 million under its insurance deductible, with insurers covering the balance.
Do not divide $38.25 million by the number of investors to estimate a payment. Before distribution, the fund is reduced by court-approved lawyers’ fees and expenses and settlement administration costs. The remainder is distributed in proportion to the value of valid claims. No fixed per-share or per-investor amount has been announced.
How to File a CAE Settlement Claim
- Check your dates. Confirm you acquired CAE common shares between August 10, 2022 and May 21, 2024, and held some or all of them between February 14, 2024 and May 22, 2024.
- Gather brokerage records. Statements, trade confirmations, or other records showing purchases, sales, and holdings. Use actual records rather than estimates.
- Go to the official claim site and complete the claim form. Avoid unofficial settlement-listing sites.
- Submit supporting documents as the administrator instructs. Make sure your name and details match your records, and include your full relevant trading history.
- File by March 22, 2027. Late claims may not be eligible. Save your confirmation.
Do not confuse the three dates: December 1, 2026 (opt-out), December 22, 2026 (approval hearing), and March 22, 2027 (claim deadline).
For a broader walkthrough, read How To Claim A Lawsuit Settlement? Guide To Getting Paid.
Key Dates
| Event | Date |
| Share acquisition period begins | August 10, 2022 |
| Required holding period | February 14, 2024 to May 22, 2024 |
| Share acquisition period ends | May 21, 2024 |
| Lawsuit filed in Québec | June 10, 2024 |
| Settlement announced | October 2, 2026 |
| Opt-out deadline | December 1, 2026 |
| Court approval hearing | December 22, 2026 |
| Claim deadline | March 22, 2027 |
Opting Out
You can opt out by December 1, 2026 if you want to keep the right to pursue your own claim against CAE. Opting out is separate from filing a claim, and opting out generally means giving up any share of the settlement. Read the official notice carefully before deciding, because exclusion affects which claims you release.
Is the Settlement Final?
No. This is a proposed settlement.
- Settlement reached: Yes
- Claim period open: Yes
- Claim deadline: March 22, 2027
- Court approval: Still required (hearing December 22, 2026)
- Guaranteed individual payment: No
- Final payout amount: Not yet determined
Registry records show the underlying proceeding was filed June 10, 2024, and has been at the authorization stage in the Québec courts. The settlement is the next major development, and the court must still decide whether to approve it.
Taxes and Fees
Court-approved attorney fees and expenses will be addressed at the approval stage and deducted before distribution. The fee amount has not been set out in this article’s sources, so check the official notice. Tax treatment of a settlement payment can be complicated, especially for cross-border investors, so consult a tax professional about your situation.
What to Do Now
- Check your CAE purchase and holding dates.
- Find your brokerage and transaction records.
- Review the official settlement notice.
- Complete the claim form.
- Submit supporting documents.
- File before March 22, 2027 and keep your confirmation.
If you are unsure whether you meet the class definition, rely on the official settlement materials rather than assuming that owning CAE shares during the period is enough.
Frequently Asked Questions
Is the CAE settlement worth CAD $38.25 million?
The proposed amount is CAD $38,250,000, but that is the gross figure, not what each investor will get. Fees, expenses, and administration costs are deducted first.
Who qualifies?
People who acquired CAE common shares from August 10, 2022 through May 21, 2024, and held some or all of them at some point from February 14, 2024 through May 22, 2024.
Does it include U.S. investors?
Potentially. The class is defined by share transactions and holding history, not residency. Check the official notice.
How much will each investor receive?
No fixed amount has been announced. Payments are pro rata based on valid claims.
What is the claim deadline?
March 22, 2027.
What is the opt-out deadline?
December 1, 2026.
When will the court decide on approval?
The approval hearing is December 22, 2026, in Montréal.
Do I have to file a claim?
Yes. You must submit a valid claim to be considered for compensation.
What proof do I need?
Proof of identity and CAE share transaction records, such as brokerage statements and trade confirmations.
Do I need a lawyer to claim?
Class counsel acts for the class, so you do not need to hire your own lawyer to file a claim. If you opt out and want to sue individually, you would need your own counsel.
Has a court found CAE committed securities fraud?
No. The allegations have not been proven, and the defendants deny liability.
What is the court file number?
500-06-001312-244.
Related AllAboutLawyer Coverage
- How To Claim A Lawsuit Settlement? Guide To Getting Paid
- ChemoCentryx $69M Investor Securities Settlement: a separate securities settlement, not connected to the CAE case
Disclaimer: This article is for general informational purposes only. It is not legal or tax advice and does not create an attorney-client relationship. Eligibility, claim calculations, deadlines, and legal rights depend on the official court documents and settlement terms.
About the Author: Israr Ahmad, Legal Content Researcher
Sources
- Québec Registry of Class Actions, application 500-06-001312-244. https://www.registredesactionscollectives.quebec/en/Consulter/ApercuDemande?NoDossier=500-06-001312-244
- PR Newswire, “Purchasers of CAE Inc.’s common shares may be eligible to claim compensation from a $38.25 million class action settlement,” October 2, 2026. https://www.prnewswire.com/news-releases/purchasers-of-cae-incs-common-shares-may-be-eligible-to-claim-compensation-from-a-38-25-million-class-action-settlement-302893327.html
- BNN Bloomberg, “CAE agrees to settle class-action lawsuit by shareholders,” October 2, 2026.
- CAE Inc. filing with the U.S. Securities and Exchange Commission, March 2026 reporting. https://www.sec.gov/Archives/edgar/data/1173382/000117338226000012/cae_033126xex2annualfinanc.htm
- Official settlement website: CAE Securities Settlement. https://caesecuritiessettlement.com/
About the Author
Israr Ahmad is a legal content researcher with 4+ years of experience covering class action settlements and consumer rights cases. He has researched and published coverage of 2,500+ settlements using verified court records, settlement administrator filings, and government sources. Learn more about Israr.