1. On March 12, 2026, Strosberg Wingfield Sasso LLP and Siskinds LLP commenced a proposed class action against goeasy Ltd. (TSX:GSY) in the wake of the company’s March 10, 2026 announcement that, among other things, it expected to take an incremental charge-off of about $178 million on certain loans in Q4 2025, plus a related $55 million write down of loan interest and fees, contributing to total quarterly net charge-offs of about $331 million.
2. The proposed class action alleges that goeasy Ltd. and others made misrepresentations in public disclosures to investors and following the public correction of the misrepresentations goeasy Ltd.'s share price declined significantly.
3. The proposed class is defined as the Offering Memoranda Class and the Secondary Market Class.
“Offering Memoranda Class” means all persons, other than the Excluded Persons, who acquired securities of Goeasy offered by the the offering memoranda for Goeasy’s private placements of (i) 9.25% USD senior unsecured notes due December 1, 2028 that closed on or around November 28, 2023, (ii) 7.625% USD senior unsecured notes due July 1, 2029 that closed on or around February 23, 2024, and (iii) 7.625% USD senior unsecured notes due July 1, 2029 that closed on or around July 25, 2024, during the period of distribution in reliance on the “accredited investor” prospectus exemption.
“Secondary Market Class” means all persons, other than the Excluded Persons, who acquired securities of Goeasy in the secondary market from the release of Goeasy’s first quarter 2023 financial results on May 9, 2023 to the release of Goeasy’s FY 2025 Financial Disclosures on March 31, 2026.
4. A copy of the statement of claim can be found here. If you acquired goeasy Ltd. securities on the TSX from May 9, 2023 to March 31, 2026, please enter the information requested on the questionnaire page.
5. A carriage motion between this proposed class action and other related proposed class actions in Ontario has now been scheduled before Justice Leiper of the Ontario Superior Court of Justice to be heard on October 22, 2026. The court's endorsement with the schedule for this motion can be found here.
6. Strosberg Wingfield Sasso LLP is one of Canada's preeminent boutique litigation law firms. The firm has recovered billions of dollars for its clients. For more information about the law firm, please visit www.swslitigation.com.
7. If you would like to know more about how a class action works, click here.