Quebec's securities regulator investigating transactions at Bombardier
AMF is 'reviewing' transactions related to new securities program put in place in August
Quebec's securities regulator says it has opened an investigation into Bombardier.
The Autorité des marchés financiers (AMF) says it is reviewing transactions related to the Automatic Securities Disposition Plan put in place at the Montreal-based aerospace and transportation company in August.
According to Bombardier, the plan "allows for the exercise and sale of vested securities earned by certain senior executives of Bombardier as part of their overall performance-based compensation."
The AMF has asked the company to suspend all sales of securities under the plan until further notice.
The investigation comes following a plunge in the company's share price.
In August, when Bombardier launched the program, stocks were valued at $4.64. Today they reached just $2.09.
Bombardier did not immediately respond to a request for comment.