NEW YORK, April 7, 2016 /PRNewswire/ -- Attorney
Advertising -- Bronstein, Gewirtz & Grossman, LLC, notifies
investors of class action against Amaya, Inc. ("Amaya" or "the
Company") (NASDAQ: AYA). The class action has been filed in
the United States District Court, Southern District of New York, on behalf of a class consisting of
all persons or entities who purchased Amaya securities during the
period between June 8, 2015 and
March 22, 2016 inclusive (the "Class
Period").
This class action seeks to recover damages against Defendants
for alleged violations of the federal securities laws under the
Securities Exchange Act of 1934 (the "Exchange
Act").
Amaya Inc. is a Canadian gaming and online gambling company
headquartered in suburban Montreal,
Quebec. The Company operates through two segments,
Real-Money Online Poker, and Real-Money Online Casino and
Sportsbook.
The Complaint alleges that throughout the Class Period,
Defendants made false and/or misleading statements, and failed to
disclose material adverse facts about the Company's business,
operations, and prospects. Specifically, Defendants made false
and/or misleading statements and/or failed to disclose: (1) that
the Amaya's Chief Executive Officer was engaged in an insider
trading plot that falsely inflated the market price of the
Company's securities and gave privileged information to third
parties; (2) Amaya lacked adequate internal controls; and (3) that,
as a result of the above-mentioned, Defendants' statements about
Amaya's business, operations, and prospects, were false and
misleading and/or lacked a reasonable basis.
On March 23, 2016, Reuters
announced that Amaya's Chief Executive Officer, David Baazov, has been charged with insider
trading by Quebec's securities
regulator. The regulator said it had filed charges against Baazov
for "aiding with trades while in possession of privileged
information, influencing or attempting to influence the market
price of the securities of Amaya" and "communicating privileged
information." Following this news, Amaya's stock fell $3.07 per share, or over 21%, to close at
$11.18 per share on March 23, 2016, on unusually heavy trading
volume.
A class action lawsuit has already been filed. If you wish to
review a copy of the Complaint and join the action, visit the
firm's website: http://www.bgandg.com/#!aya/a9a9n. To discuss
this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations
Analyst, Yael Hurwitz of Bronstein,
Gewirtz & Grossman, LLC at 212-697-6484 or via email
info@bgandg.com. Those who inquire by e-mail are encouraged to
include their mailing address and telephone number. If you
suffered a loss in Amaya you have until May 24, 2016 to request that the Court
appoint you as lead plaintiff. Your ability to
share in any recovery doesn't require that you serve as a lead
plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm's expertise includes general
corporate and commercial litigation, as well as securities
arbitration. Attorney advertising. Prior results do not
guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
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SOURCE Bronstein, Gewirtz & Grossman, LLC