trending Market Intelligence /marketintelligence/en/news-insights/trending/ljgoz6sjzzkgore_0qbscw2 content esgSubNav
In This List

SNC-Lavalin agrees to pay C$88M to settle 2 class actions in Canada

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Using ESG Analysis to Support a Sustainable Future

Research

US utility commissioners: Who they are and how they impact regulation

Blog

Q&A: Datacenters: Energy Hogs or Sustainability Helpers?


SNC-Lavalin agrees to pay C$88M to settle 2 class actions in Canada

SNC-Lavalin Group Inc. has agreed to pay C$88 million to settle two class-action lawsuits in Quebec and Ontario relating to alleged disclosure misrepresentation during 2009 to 2011.

The suits were filed on behalf of SNC-Lavalin's security holders in 2012 pursuant to the secondary market civil liability provisions in various Canadian securities statutes. The settlement, which is pending court approvals, is "another step in resolving our legacy issues and de-risking the future of SNC-Lavalin," the company said in a May 22 news release.

The Montreal-based engineering and construction services provider previously signed an administrative agreement with Public Works and Government Services Canada under the federal government's new Integrity Regime in 2015, reached an agreement with the Commissioner of Canada Elections and with the Ordre des ingénieurs du Québec in 2016 and reached a fair and final settlement with Quebec's Voluntary Reimbursement Program in 2017.