Bombardier: class action authorized in Quebec

(CercleFinance.com) - Bombardier said Tuesday that it intends to vigorously contest a class action authorized by the Quebec Superior Court, denying any wrongdoing in the case.


The case concerns non-transferable share units (RSUs), for which the plaintiffs are seeking an amount equal to the value of the RSUs that were cancelled on a 'pro rata' basis following the sale of Bombardier Transportation to Alstom.

According to the court, the plaintiffs will nevertheless have to meet four conditions, namely that (1) they were employed by BT prior to 2021, (2) they signed an award agreement for IAUs, (3) they own IAUs with a vesting date later than January 2021, and (4) their employment contract was not terminated prior to the occurrence of the IAU vesting date.

In a press release, Bombardier says it is reviewing the decision and evaluating its options, including the possibility of an appeal, while expressing its intention to continue to defend itself vigorously at every stage of the litigation.

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