NEW YORK, April 22, 2016 /PRNewswire/ -- 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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SOURCE Pomerantz LLP