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SNC-Lavalin says motion filed for class action against company

Tags: SNC-Lavalin
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Engineering firm SNC-Lavalin Group Inc. (SNC-T) said a motion to bring a $250 million class action lawsuit against the company has been filed with the Superior Court of Quebec.

The motion seeks the court's approval to bring a class action lawsuit on behalf of anybody who bought the company's securities between March 13, 2009 and February 28, 2012, for alleged misrepresentations.

The motion named the company, its directors, officers and certain former employees as defendants.

SNC-Lavalin said it denies liability of the claims in the motion and intends to oppose them.

On Friday, Québec-based law firm Siskinds, Desmeules said it filed the proposed class action against SNC-Lavalin alleging the company made statements that were materially false and misleading in regard to its code of conduct, legal compliance, and internal controls.

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