The statements below are Rochon Genova’s account of this case. They reflect allegations or the firm’s position and have not been determined by a court unless a settlement or judgment is noted.
About This Case
Cases goeasy Ltd.
This proposed securities class action alleges that goeasy Ltd., certain of its officers and directors, an insider, and its auditor, Ernst & Young LLP, made material misrepresentations regarding the value and quality of goeasy's consumer loan portfolio.
Stage: Carriage
The Claims
The plaintiffs allege that, while reporting significant growth in its loan portfolio (throughout 2023 to 2025), goeasy overstated the value of its consumer loans, understated loan losses and delinquency rates, and failed to disclose material weaknesses in its internal controls.
The claim arises from a series of alleged corrective disclosures between September 2025 and March 2026, including a short-seller report, goeasy’s announcement that it would revise previously reported financial results to recognize significant additional loan losses and write-downs, and its subsequent restatement of financial statements dating back to the first quarter of 2024. The plaintiffs allege that these disclosures caused goeasy’s share price to decline from over $200 per share to just over $35 per share. The action seeks damages under the Securities Act (Ontario), the Business Corporations Act (Ontario), and at common law.
The Proposed Class
In connection with the carriage motion the Plaintiffs have amended their proposed class definition, which now reads:
All persons, other than Excluded Persons, wherever they may reside or be domiciled, who acquired goeasy securities during the Class Period, and held any of those securities through any of: (i) September 22, 2025 at 09:41 ET; (ii) November 5, 2025 at 16:15 ET; (iii) December 4, 2025 at 22:00 ET; (iv) March 10, 2026 at 08:54 ET; (v) March 24, 2026 at 07:52 ET; and (vi) March 31, 2026 at 20:23 ET.
The proposed class period, as amended, means the period from August 5, 2021, to and including March 31, 2026 at 20:23 ET.
Updates
March 11, 2026,
Rochon Genova investigates goeasy Ltd. (TSX:GSY).
On March 17, 2026, Rochon Genova filed an application for authorization in the Quebec Superior Court on behalf of Quebec investors.
On March 20, 2026, Rochon Genova issued a Statement of Claim in the Ontario Superior Court of Justice on behalf of all goeasy Ltd. investors.
Since commencing the Ontario action, Rochon Genova has partnered with Kalloghlian Myers LLP, and together the firms are seeking carriage of the proceeding. The carriage motion is scheduled to be heard on October 22, 2026.
Source: Rochon Genova
Who May Be Eligible
In connection with the carriage motion the Plaintiffs have amended their proposed class definition, which now reads: All persons, other than Excluded Persons, wherever they may reside or be domiciled, who acquired goeasy securities during the Class Period, and held any of those securities through any of: (i) September 22, 2025 at 09:41 ET; (ii) November 5, 2025 at 16:15 ET; (iii) December 4, 2025 at 22:00 ET; (iv) March 10, 2026 at 08:54 ET; (v) March 24, 2026 at 07:52 ET; and (vi) March 31, 2026 at 20:23 ET. The proposed class period, as amended, means the period from August 5, 2021, to and including March 31, 2026 at 20:23 ET.
Source: Rochon Genova
Disclaimer: This information is sourced from Rochon Genova. It is provided for general information only and does not constitute legal advice. Always verify details with the original source before taking any action.
Legal disclaimer: Information on this page is general in nature and does not constitute legal advice. ClaimBar tracks class action settlements and provides updates. Always seek professional legal advice for your specific circumstances.
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