Class action against SNC-Lavalin Group Certified: Notice of certification and authorization and leave to proceed with statutory secondary market misrepresentation claims granted by Ontario and Quebec Courts

Class action against SNC-Lavalin Group Certified: Notice of certification and authorization and leave to proceed with statutory secondary market misrepresentation claims granted by Ontario and Quebec Courts by Rochon Genova
The action alleges that disclosure documents issued by SNC during the Class Period contained misrepresentations relating to, among other things, the adequacy of SNC’s internal controls, the compliance of certain of SNC’s financial statements with generally accepted accounting principles, and the compliance of members of SNC’s management with the company’s Code of Ethics and Business Conduct. It is further alleged that the defendants’ misrepresentations caused the price of SNC’s securities to become inflated, and that the class members suffered damage when the truth was revealed to the investing public. The action claims $1 billion in damages.