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 Investors of May 24, 2016 Lead Plaintiff Deadline in Securities Class Action - EconoTimes)
San Francisco, April 20, 2016 -- Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, reminds Amaya, Inc. (NASDAQ:AYA) investors of the May 24, 2016 lead plaintiff deadline in the securities class action lawsuit related to the Company’s Chairman, President and Chief Executive Officer’s alleged insider trading.
If you suffered significant losses because of your purchases of AYA between June 8, 2015 and March 23, 2016 or have information that will help our investigation contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation by calling 510-725-3000, emailing [email protected] or visiting https://www.hbsslaw.com/cases/AYA. The lawsuit was filed in the U.S. District Court for the Southern District of New York and investors have until May 24, 2016 to move the court to participate as a lead plaintiff.
The class action complaint alleges that just days before Amaya’s June 8, 2015 listing on the Nasdaq exchange, the Company announced in response to the Canadian regulators’ inquiry into whether David Baazov engaged in insider trading that the Company found no wrongdoing and assured investors that it believed no charges would follow. On March 23, 2016, Canadian regulators criminally charged Defendant Baazov with insider trading. On this news, Amaya’s stock price plummeted $3.07, over 21%, to close at $11.18 per share on March 23, 2016.
Throughout the Class Period, Amaya made materially false and misleading statements and failed to disclose that: (a) Amaya’s Chairman, President, and CEO David Baazov engaged in an insider trading scheme by providing privileged information to third parties and artificially inflated the price of the Company’s securities; and (b) the Company lacked adequate internal controls.
Whistleblowers: Persons with non-public information regarding Amaya Inc. should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email [email protected].
About Hagens Berman
Hagens Berman is headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. Read the Firm’s Securities Newsletter, and visit the blog. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact: Reed Kathrein, 510-725-3000
