Quebec’s financial markets regulator said Bombardier’s executive stock-sale program is under review and ordered all such transactions to be suspended.
Quebec’s scrutiny piles pressure on Bombardier a week after the company lost a quarter of its value following a weak cash-flow forecast and rising doubts on a turnaround plan. Bombardier announced the stock-sale plan in August, saying transactions would take place over two years. The Ontario Securities Commission said the next month that top executives including Chief Executive Officer Alain Bellemare were aiming to sell millions of shares.
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