Cohen Milstein Sellers & Toll PLLC Announces The Investigation Of Amaya, Inc.
May 06 2016 - 10:05AM
Cohen Milstein Sellers & Toll PLLC is conducting an
investigation to determine whether Amaya Inc. (“Amaya” or the
“Company”) and certain of its officers and directors made false and
misleading statements and/or omissions in violation of Sections
10(b) and 20(a) of the Securities Exchange Act of 1934.
Class action lawsuits were filed in the U.S.
District Court for the Southern District of New York and in the
District of New Jersey by other law firms on behalf of purchasers
of the common stock of Amaya Inc. (NASDAQ:AYA) between June 8, 2015
and March 23, 2016, inclusive (the “Class Period”).
The complaints allege that Amaya and certain of
its officers and directors (“Defendants”) misrepresented and/or
failed to disclose that: (1) Amaya’s CEO engaged in an insider
trading scheme to influence the price of Amaya’s securities, (2)
the Company lacked adequate internal controls, and (3) statements
about Amaya’s business, operations, and prospects lacked a
reasonable basis during the Class Period.
On June 1, 2015, Amaya filed a Form 6-K
disclosing that an investigation by the Quebec Securities
Regulatory Authority (the “Autorite des marches financiers” or
“AMF”) into the trading of Amaya securities involved CEO David
Baazov and CFO Daniel Sebag. Amaya further stated that the AMF had
not filed any charges, the investigation was sealed by court order,
and the Company was not permitted by law to disclose any further
details of the investigation.
On March 23, 2016, Amaya filed a Form 6-K and
press release disclosing that the AMF charged Baazov with “aiding
with trades while in possession of privileged information,
influencing or attempting to influence the market price of Amaya
securities, and communicating privileged information.” The price of
Amaya’s stock fell from $14.25 on March 22 to $11.18 on March
23.
Cohen Milstein encourages all investors who
purchased Amaya Inc. common stock between June 8, 2015 and March
23, 2016, or former employees with information concerning this
matter to contact the firm.
If you are an Amaya shareholder and would like
to discuss your right to recover for your economic loss, you may,
without any cost or obligation, call Cohen Milstein’s Managing
Partner, Steven J. Toll at (888) 240-0775 or (202) 408-4600, or
email him at stoll@cohenmilstein.com. If you wish to serve as
lead plaintiff, you must move the Court no later than May 24, 2016
to request appointment. Any member of the proposed class may
retain Cohen Milstein or other attorneys to serve as your counsel
in this action, or you may do nothing and remain an absent class
member.
Cohen Milstein has significant experience in
prosecuting investor class actions and actions involving securities
fraud, and is active in major litigation pending in federal and
state courts throughout the nation. Cohen Milstein has taken
a lead role in numerous important cases on behalf of defrauded
investors, and has been responsible for a number of outstanding
recoveries which, in the aggregate, total over two billion
dollars. Prior results do not guarantee a similar
outcome. For more information visit
www.cohenmilstein.com.
Attorney Advertising
If you have any questions about this notice or the action, or with regard to your rights, please contact either of the following:
Steven J. Toll, Esq.
Robin Bleiweis
Cohen Milstein Sellers & Toll PLLC
1100 New York Avenue, N.W.
Suite 500 East
Washington, D.C. 20005
Telephone: (888) 240-0775 or (202) 408-4600
Email: stoll@cohenmilstein.com; rbleiweis@cohenmilstein.com
Stars (NASDAQ:TSG)
Historical Stock Chart
From Sep 2024 to Oct 2024
Stars (NASDAQ:TSG)
Historical Stock Chart
From Oct 2023 to Oct 2024