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On February 6, 2019, Siskinds LLP and Siskinds, Desmeules Avocats s.e.n.c.r.l., filed a proposed securities class action in Québec against SNC-Lavalin Group Inc. (“SNC”), SNC’s President and Chief Executive Officer Neil Bruce, and SNC’s Executive Vice-President and Chief Financial Officer Sylvain Girard (the “Action”).

The Action alleges that persons who acquired SNC shares between February 22, 2018 and January 27, 2019 (inclusive) (“Class Period”) suffered damage as a result of alleged misrepresentations made in SNC’s disclosure documents and oral statements during the Class Period. The Action alleges that the misrepresentations were corrected by a press release issued by SNC on January 28, 2019. In that press release, SNC disclosed a number of issues and problems affecting its Mining & Metallurgy and Oil & Gas segments that would have a material adverse effect on SNC’s performance in 2018 and beyond. Following that disclosure, the price of SNC’s shares declined by $13.49 or approximately 28% during trading on the TSX on January 28, 2019 from its closing price on the previous trading day.

Subject to certain exclusions, the proposed class in the Action comprises all persons and entities, wherever they may reside or be domiciled, who acquired SNC shares in the secondary market during the Class Period and held some or all of such shares as of the commencement of trading on the TSX on January 28, 2019 (“Class Members”).

The Plaintiff is seeking compensation for the losses suffered by the Class Members. The Plaintiff alleges that SNC, Mr. Bruce and Mr. Girard are liable for those losses.

If you would like to be updated on developments in the Action, please complete the form at the bottom of the page. Your information will be held in strict confidence. By completing the form, you are not retaining Siskinds LLP or Siskinds Desmeules, nor do you incur any obligations in connection with the Action.

For inquiries, please complete the form below or email snc@siskinds.com. For telephone inquiries, please call 1-800-461-6166.

Developments

The class action against SNC-Lavalin is in the early stages of proceedings. It has not yet been authorized by the courts.

FAQs

What is a Class Action?

A class action is a lawsuit that is brought by one or more persons on behalf of a larger group of people whose claims share common legal and/or factual issues. Such people are commonly referenced as “class members.” Class actions provide a cost-effective way for groups of people with common interests to pursue a legal claim.

Who is affected?

You are affected by this class action if you acquired SNC shares in the secondary market during the period from February 22, 2018 to January 27, 2019 (inclusive) and held some or all of such shares as of the commencement of trading on the TSX on January 28, 2019 (provided you are not an “excluded person”).

Do I have to pay anything to participate in the class action?

No. Class counsel are paid a percentage of any settlement or court award. Class counsel fees are subject to court approval.

What does “certification” mean?

Certification is the motion where the court determines whether the action can properly be pursued as a class action on behalf of the class members. In certifying the lawsuit as a class action, the court will consider factors such as whether the claims of the class members raise common legal and/or factual issues and whether a class action is the preferable method of pursuing the claims (as opposed to other methods, such as individual actions). After the court certifies the lawsuit as a class action, usually, notices will be disseminated to the class members. These notices will advise the class members that the lawsuit has been certified, and they will also set out the issues that the court will be asked to determine on behalf of the class members. At this stage, the court will also fix a time period during which the class members may exclude themselves from the class action lawsuit by filing an “opt-out” form. Class members who do not opt out from the class action by the deadline that will be fixed by the court will be bound by the outcome of the class action.

How can I join the class action?

There are no steps required to “join” this class action. Assuming you fall within the scope of the class definition, you would be automatically included in the class action if it is certified unless you opt out when and as told you can. Notices will be issued to the affected persons after the court certifies the class action.

Can I exclude myself from the class action?

Yes. After the class action is certified, you will be given an opportunity to opt out (exclude yourself from the class action). If you opt out, you will not be able to participate in any settlement or court award achieved in the class action, but you may be able to pursue your claim on an individual basis. Generally speaking, the class members would only want to opt out of a class action if they intend to bring individual litigation. In most circumstances, it is more cost effective to participate in a class action because the legal costs are spread over a large number of people, making it more economic for any individual class member to obtain relief.

What should I do to protect my rights?

To protect your rights, you should:

Keep records of any purchases and sales of the shares of SNC-Lavalin Group Inc.

Register to receive updates on this case by filling out the form below. By submitting your information to Siskinds, you do not retain Siskinds as your lawyers, nor do you incur costs in connection with this class action.

While the class action is pending, notices will be disseminated to the class members advising that they should take certain steps by specific deadlines in order to preserve their rights. This information will also be made available on Siskinds’ website. These deadlines will usually be fixed by the courts, and will need to be adhered with in order to protect your rights.

I still have a question. Who should I contact?

If you have any other questions, please complete the contact form below.

You may contact our affiliated Quebec firm Siskinds, Desmeules at 418-694-2009 or at the toll free number 1 (877) 735-3842 or by email at recours@siskinds.com.

The class action against SNC-Lavalin is in the early stages of proceedings. It has not yet been authorized by the courts.

What is a Class Action?

A class action is a lawsuit that is brought by one or more persons on behalf of a larger group of people whose claims share common legal and/or factual issues. Such people are commonly referenced as “class members.” Class actions provide a cost-effective way for groups of people with common interests to pursue a legal claim.

Who is affected?

You are affected by this class action if you acquired SNC shares in the secondary market during the period from February 22, 2018 to January 27, 2019 (inclusive) and held some or all of such shares as of the commencement of trading on the TSX on January 28, 2019 (provided you are not an “excluded person”).

Do I have to pay anything to participate in the class action?

No. Class counsel are paid a percentage of any settlement or court award. Class counsel fees are subject to court approval.

What does “certification” mean?

Certification is the motion where the court determines whether the action can properly be pursued as a class action on behalf of the class members. In certifying the lawsuit as a class action, the court will consider factors such as whether the claims of the class members raise common legal and/or factual issues and whether a class action is the preferable method of pursuing the claims (as opposed to other methods, such as individual actions). After the court certifies the lawsuit as a class action, usually, notices will be disseminated to the class members. These notices will advise the class members that the lawsuit has been certified, and they will also set out the issues that the court will be asked to determine on behalf of the class members. At this stage, the court will also fix a time period during which the class members may exclude themselves from the class action lawsuit by filing an “opt-out” form. Class members who do not opt out from the class action by the deadline that will be fixed by the court will be bound by the outcome of the class action.

How can I join the class action?

There are no steps required to “join” this class action. Assuming you fall within the scope of the class definition, you would be automatically included in the class action if it is certified unless you opt out when and as told you can. Notices will be issued to the affected persons after the court certifies the class action.

Can I exclude myself from the class action?

Yes. After the class action is certified, you will be given an opportunity to opt out (exclude yourself from the class action). If you opt out, you will not be able to participate in any settlement or court award achieved in the class action, but you may be able to pursue your claim on an individual basis. Generally speaking, the class members would only want to opt out of a class action if they intend to bring individual litigation. In most circumstances, it is more cost effective to participate in a class action because the legal costs are spread over a large number of people, making it more economic for any individual class member to obtain relief.

What should I do to protect my rights?

To protect your rights, you should:

Keep records of any purchases and sales of the shares of SNC-Lavalin Group Inc.

Register to receive updates on this case by filling out the form below. By submitting your information to Siskinds, you do not retain Siskinds as your lawyers, nor do you incur costs in connection with this class action.

While the class action is pending, notices will be disseminated to the class members advising that they should take certain steps by specific deadlines in order to preserve their rights. This information will also be made available on Siskinds’ website. These deadlines will usually be fixed by the courts, and will need to be adhered with in order to protect your rights.

I still have a question. Who should I contact?

If you have any other questions, please complete the contact form below.

You may contact our affiliated Quebec firm Siskinds, Desmeules at 418-694-2009 or at the toll free number 1 (877) 735-3842 or by email at recours@siskinds.com.

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