The defendants, including CAE Inc. and its former CEO and CFO, maintain they are not liable for the alleged misrepresentations. They agreed to the payout to bypass the mounting costs and inherent risks of a prolonged trial. Under the terms of the settlement, CAE will contribute up to CAD $5 million toward the total, with the remainder covered by insurance providers. Approval from the Superior Court of Québec remains pending, with a hearing scheduled for December 22, 2026, in Montréal.

To qualify for a portion of the funds, eligible shareholders must submit valid claim forms by March 22, 2027. Payments will be distributed proportionally based on the value of each claim after legal fees and administrative expenses are deducted. Those wishing to exclude themselves from the settlement must formally opt out by December 1, 2026. Detailed instructions for filing claims or opting out are available at CAESecuritiesSettlement.com.