AYA INVESTORS ALERT: Lieff Cabraser Reminds Investors of Deadline in Class Action Against Amaya, Inc.
April 22 2016 - 5:40PM
Business Wire
The law firm of Lieff Cabraser Heimann & Bernstein, LLP
reminds investors of the upcoming deadline to move for appointment
as lead plaintiff in securities class litigation brought on behalf
of investors who purchased the securities of Amaya, Inc. (“Amaya”
or the “Company”) (Nasdaq: AYA) between June 8, 2015 and March 23,
2016, inclusive (the “Class Period”).
If you purchased Amaya securities during the Class Period, you
may move the court for appointment as lead plaintiff by no later
than May 24, 2016. A lead plaintiff is a representative party who
acts on behalf of other class members in directing the litigation.
Your share of any recovery in the action will not be affected by
your decision of whether to seek appointment as lead plaintiff. You
may retain Lieff Cabraser, or other attorneys, as your counsel in
the action.
Amaya investors who wish to learn more about the action and how
to seek appointment as lead plaintiff should click here or contact
Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358.
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.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP is a nationally
recognized law firm committed to advancing investor rights and
promoting corporate responsibility.
For thirteen years, the National Law Journal has selected Lieff
Cabraser as one of the top plaintiffs’ law firms in the nation.
Best Lawyers and U.S. News have also named Lieff Cabraser as a “Law
Firm of the Year” each year the publications have given this award
to law firms.
For more information about Lieff Cabraser and the firm’s
representation of investors, please visit
http://www.lieffcabraser.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160422006100/en/
Source/Contact for Media Inquiries Only:Lieff Cabraser
Heimann & Bernstein, LLPSharon M. Lee, 800-541-7358
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