BOSTON, April 1, 2016 /PRNewswire/ -- Block & Leviton
LLP has filed a class action lawsuit against Amaya Inc. ("Amaya" or
the "Company") (NASDAQ: AYA) following the Company's
announcement that its CEO faces insider trading charges. The
lawsuit was filed in the United States District Court for the
Southern District of New York,
docket number 16-cv-02406. The lawsuit affects all investors
in Amaya securities purchased between June
8, 2015 and March 23,
2016.
On March 23, 2016, Quebec's securities regulator Autorite des
march financiers (the "AMF") announced that it has charged Amaya's
CEO and founder, David Baazov and
other key insiders with insider trading. The AMF has been
working in conjunction with the Royal Canadian Mounted Police,
Quebec Police and U.S. regulators
to determine why a large number of investors placed forward-looking
bets on Amaya's stock prior to its $3.8
billion merger with industry stalwart PokerStars.
The AMF has stated that its investigation is ongoing and it may
file additional charges. On news of the charges against
Baazov, Amaya stock declined approximately 20%, resulting in a loss
of market capitalization to shareholders of approximately
$275 million. Baazov has since
taken indefinite leave from Amaya to address the charges.
If you wish to serve as a lead plaintiff, you must move the
Court no later than May 24, 2016.
As a member of the class, you may move to serve as a lead
plaintiff or take no action and remain an absent class member. If
you have questions about your legal rights, would like a copy of
the complaint or if you have information relevant to this lawsuit,
please contact attorney Steven Harte
of Block & Leviton LLP, www.blockesq.com, at (617) 398-5600 or
at Steven@blockesq.com or attorney Brad
Vettraino at (617) 398-5600 or Bradley@blockesq.com.
Confidentiality to whistleblowers or others with information
relevant to the lawsuit is assured.
Block & Leviton LLP (www.blockesq.com) is a securities
litigation firm representing investors nationwide and its
investigations into corporate wrong-doing have recently been
covered by the New York Times.
With offices in both offices in Boston and the Bay Area, Block & Leviton
represents some of the nation's largest institutional investors and
has recovered more than a billion dollars for its clients.
This notice may constitute attorney advertising.
Contact:
BLOCK & LEVITON LLP
Steven Harte, Esq.
(617) 398-5600
Steven@blockesq.com
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SOURCE Block & Leviton LLP