SOURCE: Hagens Berman Sobol Shapiro LLP

Hagens Berman Sobol Shapiro LLP

May 17, 2016 12:56 ET

SHAREHOLDER ALERT: Hagens Berman Reminds Amaya, Inc. (NASDAQ: AYA) Investors of May 24, 2016 Lead Plaintiff Deadline in Insider Trading-Related Securities Class Action

SAN FRANCISCO, CA--(Marketwired - May 17, 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 AYA@hbsslaw.com 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. More specifically, the regulators announced "David Baazov, president, CEO, board chairman and a significant shareholder of Amaya, Inc., is facing five charges, in particular for aiding with trades while in possession of privileged information, influencing or attempting to influence the market price of the securities of Amaya Inc., and communicating privileged information." On this news, Amaya's stock price plummeted over 21%, to close at $11.18 per share on March 23, 2016.

"Amaya's internal investigation appears to have been less than complete and intentionally so," said Hagens Berman partner Reed Kathrein.

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 AYA@hbsslaw.com.

About Hagens Berman
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Contact Information

  • Contact:
    Reed Kathrein
    510-725-3000