AYA INVESTORS ALERT: Lieff Cabraser Announces Securities Class Action Against Amaya, Inc.
March 29 2016 - 4:40PM
Business Wire
The law firm of Lieff Cabraser Heimann & Bernstein, LLP
announces that class action litigation has been filed in federal
court in New York on behalf of investors who purchased the
securities of Amaya, Inc. (“Amaya” or the “Company”) (Nasdaq: AYA)
between June 8, 2015 and March 22, 2016, inclusive (the “Class
Period”).
If you purchased Amaya securities during the Class Period, you
may move the Court for appointment as lead plaintiff by no later
than May 24, 2016. A lead plaintiff is a representative party who
acts on behalf of other class members in directing the litigation.
Your share of any recovery in the action will not be affected by
your decision of whether to seek appointment as lead plaintiff. You
may retain Lieff Cabraser, or other attorneys, as your counsel in
the action.
Amaya investors who wish to learn more about the litigation and
how to seek appointment as lead plaintiff should click here or
contact Sharon M. Lee of Lieff Cabraser toll-free at
1-800-541-7358.
Background on the Amaya Securities Class Litigation
Amaya, headquartered in Quebec, Canada, is a provider of
technology-based products and services in the global gaming and
interactive entertainment industries.
The action alleges that defendants made false and/or misleading
statements and/or failed to disclose: (1) that the Company’s Chief
Executive Officer (“CEO”) during the Class Period, David Baazov,
was engaged in an insider trading scheme that involved influencing
the market price of the Company’s securities and communicating
privileged information to third parties; (2) the Company lacked
adequate internal controls; and, (3) that, as a result of the
foregoing, defendants’ statements about Amaya’s business,
operations, and prospects, were false and misleading and/or lacked
a reasonable basis.
On March 23, 2016, news outlets reported that Baazov was charged
with insider trading by Quebec securities regulators. Bloomberg
reported that the charges included allegations of aiding with
trades while in possession of privileged information, influencing
or attempting to influence the market price of securities of Amaya,
and communicating privileged information. On this news, Amaya’s
stock fell $3.07 per share, or 21.54% from a closing price of
$14.25 on March 22, 2016, to close at $11.18 per share on March 23,
2016, on extraordinarily heavy trading volume.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San
Francisco, New York, Nashville, and Seattle, is a nationally
recognized law firm committed to advancing the rights of investors
and promoting corporate responsibility.
The National Law Journal has recognized Lieff Cabraser as one of
the nation’s top plaintiffs’ law firms for thirteen years. In
compiling the list, the National Law Journal examines recent
verdicts and settlements and looked for firms “representing the
best qualities of the plaintiffs’ bar and that demonstrated unusual
dedication and creativity.” Best Lawyers and U.S. News have named
Lieff Cabraser as a “Law Firm of the Year” for each year the
publications have given this award to law firms.
For more information about Lieff Cabraser and the firm’s
representation of investors, please visit
http://www.lieffcabraser.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20160329006585/en/
Source/Contact for Media Inquiries OnlyLieff Cabraser
Heimann & Bernstein, LLPSharon M. Lee, 1-800-541-7358
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