goeasy Ltd.

CUSIP: 380355
ISIN: CA3803551074

Investors have retained Berger Montague (Canada) PC to represent them and a proposed class of investors who acquired Goeasy Ltd. (“GSY”) securities between May 7, 2024 and March 9, 2026, and who held all or some of those securities until after the release of the Public Corrective Disclosure on March 10, 2026.

Headquartered in Mississauga, Ontario, Canada, GSY describes itself as one of Canada’s leading non-prime consumer lenders, offering a full suite of leasing and lending products to the non-prime consumer.  The shareholder class action alleges that GSY published inaccurate material fact news about its capital, financial position and operations beginning on May 7, 2024 with the release of its Q1 2024 financial statements and MD&A.

On March 10, 2026, GSY reported the following material facts that contradicted its prior statements to investors:

• it expects to incur an incremental charge off in Q4 2025 of approximately $178 million relating to the LendCare business;
• it expects to incur a related write down of approximately $55 million for loan interest and fees;
• it expects total net charge offs (including the incremental charge off above) in the quarter to be approximately $331 million;
• it was withdrawing its previously issued Q4 2025 outlook and three-year forecast;
• after giving effect to the anticipated incremental net charge offs, it expects its net charge off rate for 2025 (full-year) to be approximately 12.9%, and with 2026 increasing to the mid-teens;
• the anticipated incremental net charge offs and increase in loan loss provision is expected to result in GSY not complying with certain financial covenants, as currently formulated, under its syndicated credit facility, securitization facilities and receivables purchase arrangements;
• its management will need to revise LendCare’s historical results for 2024 and the interim periods of 1Q – 3Q 2025; and
• it was suspending its dividend and was revoking its previously announced share buy back program.

The market’s reaction was harsh and immediate on the price for Goeasy’s securities: $115.55 to $49.72, an over 56% drop in price, i.e., over $60.00 per share purchased during the Class Period and held after March 9, 2026. Moreover, S&P Global reduced Goeasy’s credit rating from BB- to B- and put it on its negative credit watch.

If you have questions about this shareholder class action, please contact us at (647) 576-7840, or by email at Canadainfo@bergermontague.com.

Berger Montague is one of the nation’s preeminent law firms focusing on complex civil litigation, class actions, whistleblower cases, and mass torts in federal and state courts throughout the United States. With nearly $2.4 billion in 2025 post-trial judgments alone, the Firm is a leader in the fields of complex litigation, antitrust, consumer protection, defective products, environmental law, employment law, securities, and whistleblower cases, among other practice areas. For over 55 years, Berger Montague has played leading roles in precedent-setting cases and has recovered over $50 billion for its clients and the classes they have represented. Berger Montague is headquartered in Philadelphia and has offices in Chicago; Malvern, PA; Minneapolis; San Diego; San Francisco; Toronto, Canada; Washington, D.C., and Wilmington, DE.