Just Energy Group ($JE) US$25,000,000 (+ C$1,500,000 EY) Investor Settlement

Eligible claimants can submit their claims for compensation.

Ontario Superior Court of Justice

Court

05/16/2018

Class period Start

08/14/2019

Class period End

06/17/2026

Claim deadline

Just Energy Group has agreed to a US$25,000,000 settlement with $JE investors to resolve claims related to alleged financial misstatements involving Accounts Receivable and the Allowance for Doubtful Accounts.

Outline

In August 2019, Just Energy restated its financial statements. Investors later filed suit alleging the company overstated Accounts Receivable and understated its Allowance for Doubtful Accounts. The parties agreed to settle the case on November 5, 2025, for US$25,000,000 and C$1,500,000.

Timeline
August 2019: Just Energy restates its financial statements.
November 5, 2025: Parties agreed to settle for US$25,000,000 and  C$1,500,000.
Background

Just Energy Group had securities trading under “JE” (common shares) and related preferred-share symbols on the TSX and NYSE.

The claims focus on Just Energy’s public financial reporting and accounting judgments tied to Accounts Receivable and its Allowance for Doubtful Accounts.

Investors allege Just Energy’s disclosures were misleading because Accounts Receivable was overstated and the Allowance for Doubtful Accounts was understated, which they say overstated the company’s financial strength.

Following the August 2019 restatement, investors commenced a class action asserting claims under Part XXIII.1 of Ontario’s Securities Act based on the alleged receivables and reserves misstatements.

What Can Investors Expect Now?

Just Energy Group has agreed to a US$25,000,000 settlement with $JE investors to resolve claims related to alleged financial misstatements involving Accounts Receivable and the Allowance for Doubtful Accounts.

If you were damaged due to this situation, you can file for a payout and get your share of the settlement. You can check if you are eligible and other details in the FAQ section.

Case Type

Canadian Securities Class Action

Case Status

Accepting Claims

Alleged Offence

Misleading Statements,

Financial Misrepresentation,

Failure to Disclose

Suspected Party

Directors,

Management,

Service Provider

Security Type

Stocks

Trade Direction

Long

Plaintiffs

Stephen Gilchrist

Attorneys

Siskinds LLP, Berger Montague

Defendants

Ernst & Young LLP

Administrator

Verita Global

Settlement conditions

US$25,000,000 (Just Energy insurers) + C$1,500,000 (Ernst & Young LLP)

Trades matching type

FIFO

Frequently Asked Questions

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