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Just Energy Group Inc.

Company NameJust Energy Group Inc.
Stock SymbolJE
Class PeriodNovember 09, 2017 to July 23, 2019
Lead Plaintiff Motion DeadlineSeptember 30, 2019

On July 23, 2019, the Company disclosed that it had “identified customer enrolment and non-payment issues, primarily in Texas, over the past 12 months” and that, as a result, it expected an impairment charge of CAD $45 to $50 million to its Texas residential accounts receivable.

On this news, the Company’s share price fell $0.66 per share, more than 15%, to close at $3.72 per share on July 23, 2019, thereby injuring investors. 

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company experienced customer enrollment and nonpayment issues; (2) that, as a result, the Company was reasonably likely to incur an impairment charge to its accounts receivable; (3) that, as a result, the Company lacked adequate internal control over its financial reporting; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

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If you suffered a loss on your Just Energy Group Inc. investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.

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