The Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Amaya, Inc. Investors & Enc...
April 14 2016 - 10:30AM
Business Wire
Law Offices of Howard G. Smith announces that a class
action lawsuit has been filed on behalf of investors who purchased
Amaya, Inc. (“Amaya” or the “Company”) (NASDAQ: AYA) securities
between June 8, 2015, and March 22, 2016, inclusive (the
“Class Period”). Amaya investors have until May 24,
2016 to file a lead plaintiff motion.
Investors who suffered losses in excess of $100,000 on their
Amaya investments are encouraged to contact the Law Offices of
Howard G. Smith, to discuss becoming actively involved in this
litigation, at 888-638-4847 or by email to
howardsmith@howardsmithlaw.com.
On March 23, 2016, news outlets reported that Amaya’s Chief
Executive Officer (“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,
thereby injuring investors.
The complaint charges Amaya and certain of its officers with
violations of the federal securities laws. Specifically, the
complaint alleges that Defendants made false and/or misleading
statements and/or failed to disclose: (1) that the Company’s 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.
If you purchased shares of Amaya during the Class Period you may
move the Court no later than May 24, 2016 to ask
the Court to appoint you as lead plaintiff if you meet certain
legal requirements. To be a member of the Class you need not take
any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the Class. If you
wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests
with respect to these matters, please contact Howard G. Smith,
Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike,
Suite 112, Bensalem, Pennsylvania 19020 by telephone at
215-638-4847, toll-free at 888-638-4847, or by email
to howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20160414005394/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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