SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Amaya, Inc. of Class Action ...
21 May 2016 - 7:02AM
Pomerantz LLP announces that a class action lawsuit has been filed
against Amaya, Inc. (“Amaya” or the “Company”) (NASDAQ:AYA) and
certain of its officers. The class action, filed in
United States District Court, Southern District of New York, and
docketed under 16-cv-02500, is on behalf of a class consisting of
all persons or entities who purchased Amaya securities 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”).
If you are a shareholder who purchased Amaya
securities during the Class Period, you have until May 24, 2016 to
ask the Court to appoint you as Lead Plaintiff for the class.
A copy of the Complaint can be obtained at www.pomerantzlaw.com.
To discuss this action, contact Robert S. Willoughby at
rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll
free, ext. 9980. Those who inquire by e-mail are encouraged to
include their mailing address, telephone number, and number of
shares purchased.
Amaya is a provider of technology-based products
and services in the global gaming and interactive entertainment
industries. 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, as well
as 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 Company’s Chief Executive Officer (“CEO”) 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
Amaya’s CEO, David Baazov, was charged with insider trading by
Quebec securities regulators. Bloomberg Business 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 more than 21%, to close at $11.18 per share on March 23, 2016,
on unusually heavy trading volume.
The Pomerantz Firm, with offices in New York,
Chicago, Florida, and Los Angeles, is acknowledged as one of the
premier firms in the areas of corporate, securities, and antitrust
class litigation. Founded by the late Abraham L. Pomerantz, known
as the dean of the class action bar, the Pomerantz Firm pioneered
the field of securities class actions. Today, more than 80 years
later, the Pomerantz Firm continues in the tradition he
established, fighting for the rights of the victims of securities
fraud, breaches of fiduciary duty, and corporate misconduct. The
Firm has recovered numerous multimillion-dollar damages awards on
behalf of class members. See www.pomerantzlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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