Filing of shareholder class action seeking compensation for investors in SNC-Lavalin Group Inc. (now known as AtkinsRéalis Group Inc.)

Filing of shareholder class action seeking compensation for investors in SNC-Lavalin Group Inc. (now known as AtkinsRéalis Group Inc.)

TORONTO, March 10, 2026 /CNW/ - A proposed shareholder class action has been filed in the Superior Court of Québec against SNC-Lavalin Group Inc. (now known as AtkinsRéalis Group Inc.) (TSX: "SNC", now "ATRL"), its former CEO Neil Bruce and its former CFO Sylvain Girard.

The proposed class action is brought on behalf of investors who acquired SNC shares in the secondary market during the period from November 1, 2018, when SNC released its financial results for the third quarter of the 2018 financial year, through to the release of SNC's news release entitled "SNC-Lavalin provides update on new facts about the Mining & Metallurgy project" before markets opened on February 11, 2019.

The action alleges that SNC made material misrepresentations and failed to disclose material information to investors relating to:

• substantial budget overruns and a massive schedule delay on an EPC fixed-price contract that SNC entered into with Chilean state-owned copper producer Codelco, leading to a $346 million loss on the project for SNC; and
• the loss of SNC's business prospects in Saudi Arabia as a result of the Royal Order proclaimed by the King of Saudi Arabia on August 6, 2018, which prevented SNC from winning lucrative contracts with government and semi-government entities in Saudi Arabia as SNC had in the past.

It is alleged that following corrective disclosures on January 28, 2019 and February 11, 2019, in which SNC belatedly revealed the truth to its investors, SNC's market capitalization fell by approximately $2.4 billion on January 28, 2019 and approximately $0.4 billion on February 11, 2019.

The class action seeks to recover compensation for class members for the investment losses that were caused by the alleged misrepresentations.

The Plaintiffs are represented by a Class Counsel team of Kugler Kandestin LLP, Siskinds LLP, Rochon Genova and Kalloghlian Myers LLP, which collectively have decades of experience prosecuting shareholder class actions on behalf of retail and institutional investors.

Class Member Inquiries:

If you wish to receive updates on this class action, we encourage you to complete the information form on the website of Siskinds LLP or Kugler Kandestin LLP by clicking "Join". Your information will be held in strict confidence. By completing the form, you do not incur any obligations in connection with the class action.

Your communications with our firms are free, strictly confidential, and are covered by privilege.

About Class Counsel

Kugler Kandestin LLP is a prominent Québec-based law firm renowned for its class action practice. The firm has a track record of success, both in terms of litigating and settling class actions and has obtained numerous significant monetary awards for class members. https://kklex.com/

Siskinds LLP is a pioneer in class action lawsuits and has been recognized as a top-tier Canadian firm by the Chambers and Partners, a global legal review organization, in their 2026 guide. The class actions team, comprised of 25 lawyers admitted to practice in Québec, Ontario and British Columbia, act exclusively for plaintiffs. www.siskinds.com

Rochon Genova is a leading Canadian securities class action law firm which has achieved for its shareholder clients among the largest recoveries ever approved by Canadian courts. Its lawyers have appeared before trial and appellate courts across Canada including in Quebec, and before the Supreme Court of Canada. Rochon Genova and its lawyers have received peer-reviewed recognition by Chambers and Partners, Best Lawyers, and Lexpert, among others.

Kalloghlian Myers LLP is a Toronto law firm specializing in plaintiff class actions, whose lawyers have won precedent setting decisions in investor protection, competition, product liability and government liability cases.

SOURCE Siskinds LLP