Fasken represented Just Energy Group Inc. (“JE”), a publicly traded natural gas and electricity retailer whose shares and other securities trade on both the TSX and NYSE.
Plaintiffs in Ontario brought a proposed securities class action against JE, its auditor, Ernst & Young LLP, and certain officers of JE individually, alleging claims under section 138.3(1) of the Ontario Securities Act, common law negligent misrepresentation, and an oppression claim. Plaintiffs in Texas brought a proposed securities class action against JE and an officer of JE individually, alleging securities fraud under section 10(b) and control person liability under section 20(a) of the Securities Exchange Act.
On November 5, 2025, the Ontario Superior Court of Justice approved the settlement of the plaintiffs’ action, without admission of liability by the defendants.
Fasken represented JE and the individual defendants in the Ontario proceeding with a team comprised of Paul Martin, Sarah Armstrong, Robin Roddey, Christopher Casher and Mathias Memmel.
Jurisdiction
- Ontario
