SNC-Lavalin Group Inc. Shareholder Class Action (2026)
Update : February 18, 2026 – Filing of Application for Authorization to File a Securities Class Action
On February 18, 2026, Kugler Kandestin LLP, together with Siskinds LLP, Rochon Genova, and Kalloghlian Myers LLP, filed a proposed shareholder class action 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 and class period in the class action are defined as follows:
“Class” and “Class Members” means all persons and entities, wherever they may reside or be domiciled, other than certain “Excluded Persons” associated with the Defendants, who acquired SNC’s shares in the secondary market during the Class Period and held some or all of such shares through one or both of the following: (i) the release of SNC’s news release entitled “SNC-Lavalin announces lower than anticipated Q4 results impacting full year 2018” on January 28, 2019; and (ii) the release of SNC’s news release entitled “SNC-Lavalin provides update on new facts about the Mining & Metallurgy project” on February 11, 2019; and
“Class Period” means the period from the time of the release of SNC’s Q3 2018 disclosure on November 1, 2018, to the time of the release of SNC’s news release entitled “SNC-Lavalin provides update on new facts about the Mining & Metallurgy project” on February 11, 2019 (inclusive).
The action alleges that SNC made material misrepresentations and failed to disclose material information to investors relating to:
(a) 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
(b) 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 proposed class action seeks to recover compensation for class members for the investment losses that are alleged to have been caused by the misrepresentations.
If you held SNC shares during the Class Period (i.e., from on or before November 1, 2018 until on or after January 28, 2019 and/or until on or after February 11, 2019), we encourage you to contact our firm so that we can inform you of your rights.
Your communications with our firm are free, strictly confidential, and are covered by professional secrecy.
In order to be updated on developments in the case, we also invite you to provide us your contact information by clicking “Join” at the top of this page and completing the form. Your information will be held in strict confidence. By completing the form, you do not incur any financial or other obligations in connection with the proposed class action. You do not need to complete the form in order to be part of the class action.
The Kugler Kandestin attorney handling this case is:
David Stolow
dstolow@kklex.com
514-360-8867
We will continue to update this page as the case progresses.