Securities fraud class action litigation has been filed in federal court in New York on behalf of investors in Amaya, Inc. (“Amaya” or the “Company”) (Nasdaq: AYA). If you purchased Amaya securities between June 8, 2015 and March 23, 2016, inclusive (the “Class Period”), you may move the court for appointment as lead plaintiff by no later than May 24, 2016.
You may retain Lieff Cabraser Heimann & Bernstein, LLP, or other attorneys, as your counsel in the actions. Recognized by the National Law Journal as one of the nation’s top plaintiffs’ law firms, Lieff Cabraser is committed to safeguarding the rights of investors and upholding the integrity of the market. We have significant experience and a successful track record of representing institutional and individual investors in securities and financial fraud litigation.
Amaya investors may choose to have Lieff Cabraser review their claim by completing the contact form below. You can also call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358 to discuss the litigation.
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.
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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.