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.

Law Offices of Howard G. SmithHoward G. Smith, Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com

Stars (NASDAQ:TSG)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Stars Charts.
Stars (NASDAQ:TSG)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Stars Charts.